Teachers Retirement System of The State of Kentucky Trims Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Teachers Retirement System of The State of Kentucky trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 26.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 152,847 shares of the technology company’s stock after selling 55,778 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CoStar Group were worth $13,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its stake in CoStar Group by 1,393.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 11,373 shares during the period. Deutsche Bank AG boosted its stake in shares of CoStar Group by 37.1% during the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after purchasing an additional 200,183 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in CoStar Group by 11.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock valued at $312,000 after buying an additional 376 shares during the period. Simplicity Solutions LLC raised its stake in CoStar Group by 5.7% in the fourth quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after buying an additional 431 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in CoStar Group by 70.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,163 shares of the technology company’s stock worth $5,258,000 after buying an additional 24,866 shares during the period. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. William Blair reaffirmed 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 research note on Thursday, April 25th. Bank of America boosted their price objective on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Keefe, Bruyette & Woods raised their target price on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Needham & Company LLC lifted their price target on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

Insider Activity

In other news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group 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 sale, the insider now owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, 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. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

CSGP stock traded down $1.27 during midday trading on Friday, hitting $73.93. 2,828,109 shares of the stock traded hands, compared to its average volume of 2,109,370. The firm has a market cap of $30.19 billion, a P/E ratio of 101.27, a PEG ratio of 11.01 and a beta of 0.83. 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’s fifty day simple moving average is $85.90 and its 200-day simple moving average is $86.29. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The business had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. On average, analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

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.