Emerald Advisers LLC Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Emerald Advisers LLC lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,968 shares of the technology company’s stock after selling 2,027 shares during the quarter. Emerald Advisers LLC’s holdings in CoStar Group were worth $427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Polen Capital Management LLC purchased a new stake in shares of CoStar Group in the fourth quarter worth about $465,134,000. Barclays PLC raised its holdings in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp boosted its position in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares during the last quarter. Finally, Amundi grew its holdings in shares of CoStar Group by 30.1% in the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after purchasing an additional 650,454 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 0.7 %

CSGP stock opened at $78.46 on Monday. The company has a market capitalization of $32.18 billion, a PE ratio of 224.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.64. The firm’s 50-day moving average is $76.15 and its 200 day moving average is $75.73.

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

CoStar Group declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on CSGP shares. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Needham & Company LLC reduced their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $88.07.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.57% of the company’s stock.

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.