Brown Advisory Inc. Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Brown Advisory Inc. cut its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,380,066 shares of the technology company's stock after selling 386,592 shares during the quarter. Brown Advisory Inc. owned 0.82% of CoStar Group worth $241,979,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CSGP. Bamco Inc. NY boosted its holdings in shares of CoStar Group by 2.2% in the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after purchasing an additional 418,128 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of CoStar Group during the 4th quarter worth $759,000. Ameriprise Financial Inc. boosted its stake in CoStar Group by 31.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,749,116 shares of the technology company's stock valued at $196,832,000 after buying an additional 665,483 shares in the last quarter. Visualize Group LP bought a new position in CoStar Group in the fourth quarter valued at about $15,778,000. Finally, DoubleLine ETF Adviser LP raised its stake in CoStar Group by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock worth $2,105,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Down 1.4 %

Shares of NASDAQ:CSGP traded down $1.05 during midday trading on Friday, reaching $74.80. The company's stock had a trading volume of 1,397,121 shares, compared to its average volume of 2,836,796. The firm has a 50 day moving average price of $78.28 and a two-hundred day moving average price of $76.17. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $91.78. The firm has a market capitalization of $31.55 billion, a price-to-earnings ratio of 213.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction 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 trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.57% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on CSGP shares. 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 research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Citigroup cut their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Keefe, Bruyette & Woods raised their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.31.

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.