Public Employees Retirement System of Ohio Lowers Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Public Employees Retirement System of Ohio lowered its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,490 shares of the technology company's stock after selling 7,901 shares during the period. Public Employees Retirement System of Ohio's holdings in CoStar Group were worth $10,058,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in CoStar Group in the 4th quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group during the fourth quarter worth about $32,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after purchasing an additional 402 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock valued at $37,000 after buying an additional 513 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stephens reiterated an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. JMP Securities reiterated a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a research note on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Trading Down 2.1%

Shares of CoStar Group stock traded down $1.57 during mid-day trading on Friday, hitting $72.50. The stock had a trading volume of 6,147,177 shares, compared to its average volume of 2,917,133. The firm has a 50-day moving average of $77.19 and a two-hundred day moving average of $76.21. The firm has a market cap of $30.59 billion, a P/E ratio of 207.14 and a beta of 0.89. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $83.68.

CoStar Group declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.