Russell Investments Group Ltd. Reduces Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Russell Investments Group Ltd. trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,551 shares of the technology company's stock after selling 83,262 shares during the period. Russell Investments Group Ltd. owned about 0.08% of CoStar Group worth $30,221,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company's stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of CoStar Group in the fourth quarter valued at $37,000. CVA Family Office LLC bought a new position in shares of CoStar Group in the fourth quarter valued at $60,000. KB Financial Partners LLC increased its holdings in CoStar Group by 17.9% during the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company's stock worth $63,000 after buying an additional 124 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in CoStar Group by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company's stock worth $107,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CSGP. William Blair restated an "outperform" rating on shares of CoStar Group in a research note on Wednesday, April 24th. Needham & Company LLC raised their price objective on CoStar Group from $90.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. Citigroup increased their price target on CoStar Group from $90.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. Robert W. Baird lifted their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday, March 18th. Finally, JMP Securities reissued a "market outperform" rating and issued a $110.00 price objective on shares of CoStar Group in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.46.

CoStar Group Stock Down 1.3 %

Shares of CSGP stock traded down $1.17 on Wednesday, hitting $90.36. The stock had a trading volume of 2,030,654 shares, compared to its average volume of 2,194,973. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. The stock has a market cap of $36.90 billion, a price-to-earnings ratio of 123.78, a price-to-earnings-growth ratio of 10.35 and a beta of 0.84. The business has a 50 day moving average of $90.33 and a 200 day moving average of $85.00. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, analysts expect that CoStar Group, Inc. will post 0.45 EPS for the current year.

Insider Activity at CoStar Group

In other news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the firm's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.58% of the stock is owned by company insiders.

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.