CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 358,206 shares of the technology company's stock after selling 5,126 shares during the period. CoStar Group makes up approximately 1.1% of Granahan Investment Management LLC's investment portfolio, making the stock its 29th largest holding. Granahan Investment Management LLC owned 0.09% of CoStar Group worth $25,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. bought a new position in CoStar Group during the fourth quarter worth about $25,000. ORG Partners LLC grew its holdings in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group during the fourth quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CoStar Group during the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings 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 period. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded up $0.04 during mid-day trading on Tuesday, reaching $75.42. The company's stock had a trading volume of 136,040 shares, compared to its average volume of 2,845,115. The firm has a market capitalization of $31.82 billion, a PE ratio of 216.35 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The stock has a fifty day moving average of $78.21 and a two-hundred day moving average of $76.20. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $90.93.

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

CoStar Group declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $2,353,534.40. The trade was a 5.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSGP has been the subject of several recent research reports. Citigroup cut their price target 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. Keefe, Bruyette & Woods raised their price target on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Finally, William Blair assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Company 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.