CoStar Group, Inc. (NASDAQ:CSGP) Stock Holdings Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,162 shares of the technology company’s stock after selling 388 shares during the period. Kentucky Retirement Systems’ holdings in CoStar Group were worth $2,016,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the third quarter worth about $40,000. JPMorgan Chase & Co. lifted its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. Telemark Asset Management LLC lifted its holdings in CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new stake in CoStar Group in the third quarter worth about $621,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

CSGP stock opened at $76.79 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The firm has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. The firm has a 50-day moving average of $73.86 and a two-hundred day moving average of $75.42.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. On average, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.