TimesSquare Capital Management LLC Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

TimesSquare Capital Management LLC decreased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 740,641 shares of the technology company’s stock after selling 121,195 shares during the period. TimesSquare Capital Management LLC owned 0.18% of CoStar Group worth $64,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSGP. Blue Trust Inc. grew its position in shares of CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in CoStar Group in the 4th quarter worth approximately $37,000. CVA Family Office LLC acquired a new stake in CoStar Group in the 4th quarter worth approximately $60,000. KB Financial Partners LLC boosted its stake in CoStar Group by 17.9% in the 3rd quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock worth $63,000 after purchasing an additional 124 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in CoStar Group by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock worth $107,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CSGP shares. Robert W. Baird lifted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Bank of America lifted their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC lifted their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. Finally, Citigroup boosted their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

Insiders Place Their Bets

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.

CoStar Group Trading Up 1.1 %

CoStar Group stock traded up $1.02 during midday trading on Thursday, hitting $91.34. 1,121,363 shares of the stock were exchanged, compared to its average volume of 2,135,095. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock has a market capitalization of $37.30 billion, a price-to-earnings ratio of 125.12, a PEG ratio of 10.21 and a beta of 0.84. The stock’s 50-day simple moving average is $90.98 and its 200 day simple moving average is $85.48. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. CoStar Group’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.45 EPS for the current year.

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.