CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in CoStar Group, Inc. (NASDAQ:CSGP) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,000 shares of the technology company’s stock after selling 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in CoStar Group were worth $3,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the third quarter valued at $40,000. JPMorgan Chase & Co. increased its holdings in 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 in the last quarter. Telemark Asset Management LLC raised its position in CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares during the last quarter. Swedbank AB lifted its holdings in shares of CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after purchasing an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after purchasing an additional 14,468 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CSGP. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research note on Wednesday, January 29th. Wells Fargo & Company initiated coverage on CoStar Group in a research report on Wednesday, February 5th. They issued an “underweight” rating and a $65.00 price objective on the stock. 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. Keefe, Bruyette & Woods reduced their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.23.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $73.27 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The firm has a market capitalization of $30.04 billion, a price-to-earnings ratio of 166.53 and a beta of 0.87. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a 50 day moving average price of $74.17 and a 200 day moving average price of $75.46.

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.