Brown Advisory Inc. Sells 386,592 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Brown Advisory Inc. reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,380,066 shares of the technology company's stock after selling 386,592 shares during the quarter. Brown Advisory Inc. owned approximately 0.82% of CoStar Group worth $241,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Polen Capital Management LLC purchased a new position in shares of CoStar Group during the 4th quarter valued at about $465,134,000. Norges Bank bought a new stake in CoStar Group during the 4th quarter worth approximately $390,755,000. Capital International Investors lifted its holdings in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after purchasing an additional 4,345,267 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of CoStar Group by 24.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock worth $459,314,000 after purchasing an additional 1,267,263 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of CoStar Group by 2,181.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock worth $80,847,000 after purchasing an additional 1,079,815 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Up 1.0 %

CSGP traded up $0.75 during trading on Wednesday, reaching $75.34. The company had a trading volume of 3,083,926 shares, compared to its average volume of 2,837,289. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $92.18. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The business has a 50 day simple moving average of $78.29 and a 200-day simple moving average of $76.19. The stock has a market cap of $31.77 billion, a P/E ratio of 215.25 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price target on the stock. Finally, Needham & Company LLC increased their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has an average rating of "Moderate Buy" and an average price target of $88.31.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.