CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,080,673 shares of the technology company’s stock after selling 204,001 shares during the period. Nuveen Asset Management LLC owned about 0.26% of CoStar Group worth $77,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in shares of CoStar Group by 497.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock valued at $511,000 after acquiring an additional 5,940 shares during the period. Allworth Financial LP lifted its position in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares during the period. Barclays PLC lifted its position in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the period. Krilogy Financial LLC lifted its position in shares of CoStar Group by 54.9% during the 4th quarter. Krilogy Financial LLC now owns 23,662 shares of the technology company’s stock valued at $1,694,000 after acquiring an additional 8,387 shares during the period. Finally, Foster Victor Wealth Advisors LLC lifted its position in shares of CoStar Group by 12.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company’s stock valued at $13,874,000 after acquiring an additional 20,977 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CSGP shares. Keefe, Bruyette & Woods lifted their price target on shares of CoStar Group from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. JMP Securities restated a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. Finally, Craig Hallum began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.31.

CoStar Group Stock Up 1.2%

CSGP stock opened at $76.99 on Friday. The stock has a market capitalization of $32.48 billion, a P/E ratio of 219.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $87.86. The company has a 50 day moving average price of $78.03 and a two-hundred day moving average price of $76.25.

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

CoStar Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are 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.