Kampmann Melissa S. Lowers Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Kampmann Melissa S. lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,175 shares of the technology company’s stock after selling 5,240 shares during the period. Kampmann Melissa S.’s holdings in CoStar Group were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Royal London Asset Management Ltd. raised its position in shares of CoStar Group by 2.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 402,286 shares of the technology company’s stock valued at $28,800,000 after buying an additional 9,899 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of CoStar Group by 27.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 24,127 shares of the technology company’s stock valued at $1,726,000 after buying an additional 5,249 shares in the last quarter. Platinum Investment Management Ltd. grew its holdings in shares of CoStar Group by 40.0% during the 4th quarter. Platinum Investment Management Ltd. now owns 70,000 shares of the technology company’s stock valued at $5,011,000 after purchasing an additional 20,000 shares during the last quarter. Enhancing Capital LLC bought a new position in shares of CoStar Group during the 4th quarter valued at $477,000. Finally, Xponance Inc. grew its holdings in shares of CoStar Group by 1.7% during the 4th quarter. Xponance Inc. now owns 56,155 shares of the technology company’s stock valued at $4,020,000 after purchasing an additional 957 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. William Blair initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Craig Hallum initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Trading Up 1.3 %

NASDAQ:CSGP opened at $79.40 on Thursday. The company has a 50-day moving average price of $75.82 and a 200-day moving average price of $75.71. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.91. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $32.56 billion, a price-to-earnings ratio of 226.86 and a beta of 0.93.

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

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

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.