Balentine LLC Decreases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Balentine LLC reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,266 shares of the technology company’s stock after selling 189 shares during the period. Balentine LLC’s holdings in CoStar Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CSGP. Coldstream Capital Management Inc. acquired a new stake in CoStar Group during the 4th quarter worth about $345,000. PNC Financial Services Group Inc. grew its position in CoStar Group by 14.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 94,310 shares of the technology company’s stock valued at $8,242,000 after buying an additional 11,858 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of CoStar Group by 260.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,800 shares of the technology company’s stock worth $594,000 after acquiring an additional 4,914 shares in the last quarter. Norges Bank acquired a new stake in shares of CoStar Group during the 4th quarter valued at about $406,934,000. Finally, Brown Advisory Inc. grew its holdings in CoStar Group by 10.1% in the fourth quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock valued at $362,207,000 after purchasing an additional 380,859 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity

In related news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction that occurred on 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 directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 0.4 %

Shares of NASDAQ:CSGP opened at $87.19 on Thursday. The firm has a 50 day simple moving average of $91.20 and a 200-day simple moving average of $86.56. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $35.60 billion, a PE ratio of 119.44, a P/E/G ratio of 12.93 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

CSGP has been the subject of several recent analyst reports. Needham & Company LLC boosted their price target on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. BMO Capital Markets raised their target price on shares of CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. Stephens restated an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. Citigroup lifted their price target on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus target price of $102.46.

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.