Jennison Associates LLC Sells 176,967 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Jennison Associates LLC reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 28.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 438,558 shares of the technology company’s stock after selling 176,967 shares during the quarter. Jennison Associates LLC’s holdings in CoStar Group were worth $38,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CSGP. Blue Trust Inc. grew its holdings in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares during the period. Pinnacle Bancorp Inc. acquired a new position in CoStar Group in the fourth quarter valued at about $37,000. CVA Family Office LLC acquired a new position in shares of CoStar Group during the 4th quarter worth about $60,000. KB Financial Partners LLC increased its position in shares of CoStar Group by 17.9% in the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after acquiring an additional 124 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in CoStar Group by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock worth $107,000 after acquiring an additional 540 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC lowered their price target on CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Jefferies Financial Group upped their price target on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Citigroup upped their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Robert W. Baird lifted their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Finally, BTIG Research initiated coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

CoStar Group Trading Down 0.8 %

Shares of NASDAQ:CSGP opened at $84.62 on Wednesday. The company has a market capitalization of $34.56 billion, a P/E ratio of 91.98, a P/E/G ratio of 9.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. The business’s 50 day simple moving average is $89.21 and its 200 day simple moving average is $84.59. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts anticipate that CoStar Group, Inc. will post 0.44 EPS for the current fiscal 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.