CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,220 shares of the technology company’s stock after selling 38,381 shares during the period. Bridgewater Associates LP owned approximately 0.10% of CoStar Group worth $36,199,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Pathstone Family Office LLC grew its stake in shares of CoStar Group by 34.2% during the 3rd quarter. Pathstone Family Office LLC now owns 14,886 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 3,792 shares during the period. HighTower Advisors LLC boosted its stake in shares of CoStar Group by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 39,825 shares of the technology company’s stock worth $3,047,000 after acquiring an additional 659 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of CoStar Group by 1.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 80,309 shares of the technology company’s stock valued at $6,175,000 after acquiring an additional 790 shares during the period. Citigroup Inc. increased its stake in shares of CoStar Group by 19.3% in the 3rd quarter. Citigroup Inc. now owns 567,281 shares of the technology company’s stock valued at $43,618,000 after purchasing an additional 91,864 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in CoStar Group by 37.1% in the 3rd quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after purchasing an additional 200,183 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CSGP. Robert W. Baird boosted their price target on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. The Goldman Sachs Group lifted their price objective on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Needham & Company LLC boosted their price target on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Stock Performance

NASDAQ:CSGP traded down $0.91 during mid-day trading on Tuesday, reaching $75.52. 130,211 shares of the stock were exchanged, compared to its average volume of 2,097,100. The company has a 50 day simple moving average of $87.29 and a 200-day simple moving average of $86.54. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The stock has a market capitalization of $30.84 billion, a P/E ratio of 104.70, a P/E/G ratio of 11.35 and a beta of 0.84. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. Analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

About CoStar Group

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.