Allspring Global Investments Holdings LLC Sells 50,199 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Allspring Global Investments Holdings LLC decreased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 10.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 409,494 shares of the technology company’s stock after selling 50,199 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CoStar Group were worth $39,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of CoStar Group in the first quarter worth $35,000. Pinnacle Bancorp Inc. bought a new stake in shares of CoStar Group during the 4th quarter worth $37,000. Connectus Wealth LLC grew its stake in CoStar Group by 915.0% in the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after buying an additional 467,534 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in CoStar Group in the 4th quarter worth $60,000. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’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 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 this hyperlink. 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 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 disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 0.5 %

Shares of CSGP opened at $73.83 on Friday. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $81.98 and a two-hundred day moving average price of $85.28. The stock has a market cap of $30.15 billion, a price-to-earnings ratio of 101.14, a P/E/G ratio of 10.99 and a beta of 0.81. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38.

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

Wall Street Analyst Weigh In

CSGP has been the topic of several research analyst reports. Needham & Company LLC raised 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. The Goldman Sachs Group lifted their price target on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $109.00 price objective on shares of CoStar Group in a research report on Friday, June 7th. Stephens reaffirmed an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a research report on Wednesday, April 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

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.