Siemens Fonds Invest GmbH Cuts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Siemens Fonds Invest GmbH decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,929 shares of the technology company's stock after selling 3,360 shares during the quarter. Siemens Fonds Invest GmbH's holdings in CoStar Group were worth $353,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in shares of CoStar Group by 87.4% in the 4th quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock worth $103,981,000 after acquiring an additional 677,222 shares in the last quarter. Rafferty Asset Management LLC boosted its position in shares of CoStar Group by 11.4% in the 4th quarter. Rafferty Asset Management LLC now owns 233,842 shares of the technology company's stock valued at $16,741,000 after purchasing an additional 23,895 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of CoStar Group during the 4th quarter worth approximately $150,000. ProShare Advisors LLC increased its stake in CoStar Group by 18.8% in the 4th quarter. ProShare Advisors LLC now owns 542,035 shares of the technology company's stock valued at $38,804,000 after purchasing an additional 85,839 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of CoStar Group by 54.1% in the fourth quarter. Quantinno Capital Management LP now owns 23,007 shares of the technology company's stock valued at $1,647,000 after acquiring an additional 8,081 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm'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 in the company, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CSGP. Keefe, Bruyette & Woods boosted their price objective on CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Finally, Citigroup decreased their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

CoStar Group Trading Down 0.7%

Shares of CSGP stock traded down $0.54 on Tuesday, hitting $76.37. 3,421,243 shares of the company's stock traded hands, compared to its average volume of 2,885,813. The stock has a market capitalization of $32.22 billion, a price-to-earnings ratio of 218.20 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. The company's fifty day simple moving average is $78.05 and its 200 day simple moving average is $76.30. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $87.86.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting 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 net margin of 5.07% and a return on equity of 3.11%. Equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has approved a share 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

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.