KP Management LLC Has $1.18 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

KP Management LLC lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,500 shares of the technology company's stock after selling 25,000 shares during the quarter. KP Management LLC's holdings in CoStar Group were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of CoStar Group by 497.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after purchasing an additional 5,940 shares during the period. Allworth Financial LP raised its holdings in shares of CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares during the period. Douglas Lane & Associates LLC acquired a new stake in shares of CoStar Group during the fourth quarter worth $27,446,000. Finally, Barclays PLC grew its position in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after acquiring an additional 1,073,793 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Needham & Company LLC increased their target price on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and an average price target of $88.31.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value 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. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Trading Down 10.3 %

CSGP stock traded down $8.53 during mid-day trading on Wednesday, reaching $74.17. 12,495,332 shares of the stock traded hands, compared to its average volume of 2,802,064. The stock's fifty day moving average is $78.34 and its 200-day moving average is $76.26. 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 company has a market cap of $30.42 billion, a P/E ratio of 211.91 and a beta of 0.88. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $92.74.

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, hitting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

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.