Victory Capital Management Inc. Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

Victory Capital Management Inc. lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 27.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 767,602 shares of the technology company’s stock after selling 283,262 shares during the quarter. Victory Capital Management Inc.’s holdings in CoStar Group were worth $67,081,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CSGP. Principal Financial Group Inc. grew its stake in shares of CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after purchasing an additional 761,383 shares during the period. Wellington Management Group LLP boosted its stake in shares of CoStar Group by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after acquiring an additional 662,592 shares in the last quarter. FMR LLC boosted its stake in shares of CoStar Group by 83.2% during the 3rd quarter. FMR LLC now owns 1,405,414 shares of the technology company’s stock worth $108,062,000 after acquiring an additional 638,241 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of CoStar Group by 5.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after purchasing an additional 596,595 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in CoStar Group by 24.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,775,814 shares of the technology company’s stock worth $136,542,000 after purchasing an additional 352,169 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Scott T. Wheeler sold 122,736 shares of the firm’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 transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, 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. 1.58% of the stock is currently owned by corporate insiders.

CoStar Group Stock Up 1.6 %

Shares of NASDAQ CSGP opened at $91.23 on Friday. The stock has a market cap of $37.25 billion, a PE ratio of 124.97, a P/E/G ratio of 10.21 and a beta of 0.84. 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 company has a 50-day moving average of $90.60 and a 200 day moving average of $85.10.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. During the same period in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on CSGP shares. The Goldman Sachs Group raised their price objective on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Citigroup lifted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Jefferies Financial Group upped their price objective 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. Keefe, Bruyette & Woods increased their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Robert W. Baird boosted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group currently 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.