CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Telemark Asset Management LLC

Telemark Asset Management LLC lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the technology company’s stock after selling 100,000 shares during the quarter. CoStar Group comprises about 2.9% of Telemark Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Telemark Asset Management LLC owned 0.10% of CoStar Group worth $28,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in CoStar Group in the fourth quarter worth about $25,000. ORG Partners LLC lifted its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the 4th quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after acquiring an additional 513 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP opened at $76.86 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a 50 day simple moving average of $75.10 and a 200 day simple moving average of $75.67. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a market capitalization of $31.52 billion, a PE ratio of 219.60 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSGP. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Finally, William Blair started coverage on CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group 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.