State of New Jersey Common Pension Fund D Cuts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

State of New Jersey Common Pension Fund D cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,577 shares of the technology company’s stock after selling 162 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CoStar Group were worth $10,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its position in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after acquiring an additional 236,407 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after purchasing an additional 76,916 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. Finally, Barclays PLC increased its stake in 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 purchasing an additional 1,073,793 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Wednesday, January 29th. BMO Capital Markets dropped their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $90.23.

CoStar Group Stock Up 0.7 %

CSGP stock opened at $74.06 on Tuesday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The firm’s fifty day moving average is $73.90 and its 200 day moving average is $75.36. The firm has a market cap of $30.36 billion, a PE ratio of 168.32 and a beta of 0.87.

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.