BNP Paribas Financial Markets Sells 360,705 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

BNP Paribas Financial Markets decreased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 899,452 shares of the technology company's stock after selling 360,705 shares during the period. BNP Paribas Financial Markets owned 0.22% of CoStar Group worth $64,392,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CSGP. Capital International Investors raised its position in shares of 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 buying an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after buying an additional 166,769 shares in the last quarter. Akre Capital Management LLC increased its holdings in shares of CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after purchasing an additional 379,787 shares in the last quarter. Polen Capital Management LLC acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $465,134,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings 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 valued at $459,314,000 after purchasing an additional 1,267,263 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Trading Up 0.3%

CoStar Group stock traded up $0.20 during mid-day trading on Monday, hitting $74.77. The company's stock had a trading volume of 771,867 shares, compared to its average volume of 2,843,808. The firm has a market capitalization of $31.54 billion, a PE ratio of 213.21 and a beta of 0.89. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $90.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock's fifty day moving average is $78.26 and its two-hundred day moving average is $76.19.

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

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CSGP shares. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating on the stock. Finally, Needham & Company LLC increased their price target on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.31.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.57% of the stock is owned by company insiders.

CoStar Group 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.