IVC Wealth Advisors LLC Sells 2,022 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

IVC Wealth Advisors LLC lowered its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 19.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,622 shares of the technology company’s stock after selling 2,022 shares during the period. IVC Wealth Advisors LLC’s holdings in CoStar Group were worth $617,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vulcan Value Partners LLC grew its holdings in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Barclays PLC grew its stake in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the last quarter. Select Equity Group L.P. bought a new position in shares of CoStar Group in the 2nd quarter valued at $60,761,000. Finally, State Street Corp boosted its holdings 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 in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Up 0.5 %

NASDAQ CSGP opened at $74.38 on Friday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.49 billion, a P/E ratio of 169.05 and a beta of 0.85. The business has a fifty day simple moving average of $74.57 and a 200 day simple moving average of $75.34. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

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, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company posted $0.25 earnings per share. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

CSGP has been the subject of several research reports. Citigroup dropped their target price on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Friday, January 10th. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.92.

Insider Buying and Selling

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