Certuity LLC Cuts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Certuity LLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 12.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,855 shares of the technology company’s stock after selling 402 shares during the period. Certuity LLC’s holdings in CoStar Group were worth $249,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of CoStar Group in the 4th quarter worth $211,000. Gilbert & Cook Inc. boosted its holdings in CoStar Group by 14.3% in the fourth quarter. Gilbert & Cook Inc. now owns 14,571 shares of the technology company’s stock worth $1,273,000 after acquiring an additional 1,824 shares in the last quarter. Monumental Financial Group Inc. grew its stake in shares of CoStar Group by 2.6% during the fourth quarter. Monumental Financial Group Inc. now owns 12,890 shares of the technology company’s stock worth $1,126,000 after acquiring an additional 326 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in shares of CoStar Group by 6.9% during the fourth quarter. Motley Fool Asset Management LLC now owns 11,223 shares of the technology company’s stock worth $981,000 after acquiring an additional 722 shares during the last quarter. Finally, Sandhill Capital Partners LLC increased its holdings in shares of CoStar Group by 1.6% during the fourth quarter. Sandhill Capital Partners LLC now owns 339,446 shares of the technology company’s stock valued at $29,664,000 after acquiring an additional 5,465 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Performance

Shares of CSGP stock opened at $90.36 on Thursday. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The business’s 50 day moving average is $90.33 and its two-hundred day moving average is $85.00. The company has a market capitalization of $36.90 billion, a P/E ratio of 123.78, a P/E/G ratio of 10.25 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same quarter last year, the firm posted $0.35 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Analysts expect that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSGP. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Bank of America boosted their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Citigroup increased their price objective on 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 target price on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, BMO Capital Markets upped their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

Insider Activity

In related news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction dated 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 directly owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. Company insiders own 1.58% of the company’s stock.

About CoStar Group

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.