American International Group Inc. Sells 1,288 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

American International Group Inc. lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,619 shares of the technology company’s stock after selling 1,288 shares during the period. American International Group Inc.’s holdings in CoStar Group were worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new position in CoStar Group during the 4th quarter valued at $406,934,000. Capital International Investors boosted its holdings in CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after acquiring an additional 982,837 shares in the last quarter. Capital Research Global Investors grew its stake in CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after purchasing an additional 796,386 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of CoStar Group by 109.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after acquiring an additional 731,375 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in CoStar Group by 22.7% during the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after acquiring an additional 662,592 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research report on Friday, April 12th. Jefferies Financial Group boosted their price target on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $109.00 price target on shares of CoStar Group in a research note on Friday, June 7th. The Goldman Sachs Group boosted their price target on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, BMO Capital Markets boosted their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Stock Down 1.7 %

NASDAQ:CSGP traded down $1.27 during mid-day trading on Friday, reaching $73.93. The stock had a trading volume of 2,828,109 shares, compared to its average volume of 2,109,370. The stock’s 50 day simple moving average is $85.90 and its two-hundred day simple moving average is $86.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The company has a market capitalization of $30.19 billion, a price-to-earnings ratio of 101.27, a price-to-earnings-growth ratio of 11.01 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. Equities analysts anticipate that CoStar Group, Inc. will post 0.45 EPS for the current year.

Insider Buying and Selling

In other news, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of 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 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 stock in a transaction that occurred on 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 sale, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

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.