CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 64.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,780 shares of the technology company's stock after selling 15,917 shares during the quarter. Cresset Asset Management LLC's holdings in CoStar Group were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new stake in CoStar Group during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in CoStar Group during the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group during the fourth quarter worth $32,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock worth $37,000 after acquiring an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CSGP shares. Citigroup cut their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. William Blair started coverage on CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating for the company. JMP Securities reissued a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Two equities research 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 has an average rating of "Moderate Buy" and a consensus target price of $88.31.

CoStar Group Stock Up 1.2%

NASDAQ:CSGP traded up $0.94 during midday trading on Friday, reaching $76.99. The company had a trading volume of 2,618,802 shares, compared to its average volume of 2,873,005. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 219.97 and a beta of 0.89. The stock's fifty day simple moving average is $78.03 and its 200-day simple moving average is $76.23. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $88.13. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its 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 firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.09% of the stock is owned by company 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.