USS Investment Management Ltd Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

USS Investment Management Ltd decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,788 shares of the technology company's stock after selling 4,992 shares during the quarter. USS Investment Management Ltd's holdings in CoStar Group were worth $5,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group during the fourth quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth $32,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of 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. boosted its position in shares of 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. Institutional investors own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a research note on Thursday, April 17th. Craig Hallum initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Finally, Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Trading Down 0.1%

Shares of NASDAQ CSGP traded down $0.08 during mid-day trading on Wednesday, reaching $74.53. The company had a trading volume of 309,462 shares, compared to its average volume of 2,895,799. The business's 50-day moving average is $77.55 and its 200-day moving average is $76.25. 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 has a market cap of $31.44 billion, a price-to-earnings ratio of 213.06 and a beta of 0.89. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $85.78.

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