Harbor Investment Advisory LLC Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

Harbor Investment Advisory LLC lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 942 shares of the technology company’s stock after selling 215 shares during the period. Harbor Investment Advisory LLC’s holdings in CoStar Group were worth $67,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC grew its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in CoStar Group during the 3rd quarter valued at about $40,000. Quarry LP purchased a new stake in CoStar Group during the 2nd quarter valued at about $54,000. Brooklyn Investment Group purchased a new stake in CoStar Group during the 3rd quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in CoStar Group during the 2nd quarter valued at about $104,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Price Performance

CoStar Group stock opened at $74.01 on Thursday. The firm has a market cap of $30.34 billion, a PE ratio of 168.21 and a beta of 0.85. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $74.61 and its two-hundred day moving average is $75.35.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. On average, research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CSGP shares. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Thursday, January 2nd. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Citigroup decreased their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.92.

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.