CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 438,558 shares of the technology company’s stock after selling 176,967 shares during the period. Jennison Associates LLC owned 0.11% of CoStar Group worth $38,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after buying an additional 173 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in CoStar Group in the fourth quarter worth about $37,000. CVA Family Office LLC acquired a new stake in CoStar Group in the 4th quarter valued at about $60,000. KB Financial Partners LLC lifted its holdings in CoStar Group by 17.9% in the 3rd 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 shares of CoStar Group by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock worth $107,000 after purchasing an additional 540 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $84.62 on Wednesday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock’s 50-day moving average is $89.21 and its two-hundred day moving average is $84.59. 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 firm has a market cap of $34.56 billion, a P/E ratio of 91.98, a PEG ratio of 9.81 and a beta of 0.84.

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

Analysts Set New Price Targets

CSGP has been the subject of a number of research reports. Robert W. Baird raised their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Citigroup lifted their target price on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. BMO Capital Markets upped their target price on CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a report on Friday, April 19th. The Goldman Sachs Group lifted their price target on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.50.

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.