Massachusetts Financial Services Co. MA Has $1.03 Billion Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Massachusetts Financial Services Co. MA trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,826,704 shares of the technology company's stock after selling 140,336 shares during the period. Massachusetts Financial Services Co. MA owned 2.90% of CoStar Group worth $1,033,536,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. lifted its holdings in CoStar Group by 1,393.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company's stock worth $1,065,000 after purchasing an additional 11,373 shares during the last quarter. Deutsche Bank AG lifted its holdings in CoStar Group by 37.1% during the 3rd quarter. Deutsche Bank AG now owns 739,725 shares of the technology company's stock worth $56,877,000 after purchasing an additional 200,183 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in CoStar Group by 11.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company's stock worth $312,000 after purchasing an additional 376 shares during the last quarter. Simplicity Solutions LLC lifted its holdings in CoStar Group by 5.7% during the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company's stock worth $697,000 after purchasing an additional 431 shares during the last quarter. Finally, LGT Group Foundation lifted its holdings in CoStar Group by 45.2% during the 4th quarter. LGT Group Foundation now owns 59,237 shares of the technology company's stock worth $5,213,000 after purchasing an additional 18,442 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. William Blair reissued an "outperform" rating on shares of CoStar Group in a report on Wednesday, April 24th. BMO Capital Markets lifted their price objective on CoStar Group from $84.00 to $88.00 and gave the company a "market perform" rating in a report on Thursday, April 25th. JMP Securities reaffirmed a "market outperform" rating and issued a $110.00 price objective on shares of CoStar Group in a report on Friday, April 12th. Royal Bank of Canada lifted their price objective on CoStar Group from $95.00 to $109.00 and gave the company an "outperform" rating in a report on Monday, March 25th. Finally, Needham & Company LLC lifted their price objective on CoStar Group from $90.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.46.

CoStar Group Price Performance

CSGP stock traded down $1.30 during midday trading on Monday, reaching $88.58. 1,464,260 shares of the stock were exchanged, compared to its average volume of 2,121,957. The stock has a market capitalization of $36.17 billion, a PE ratio of 121.73, a P/E/G ratio of 10.06 and a beta of 0.84. 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 company has a fifty day moving average price of $91.10 and a 200 day moving average price of $85.82. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38.

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

Insider Buying and Selling

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the company's stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the sale, the chief financial officer now owns 303,417 shares of the company's stock, valued at $28,099,448.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Scott T. Wheeler sold 122,736 shares of the business'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 transaction, the chief financial officer now directly owns 303,417 shares of the company's stock, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the business's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly 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 insiders.

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.

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