Prudential Financial Inc. Sells 242,540 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Prudential Financial Inc. lessened its position in CoStar Group, Inc. (NASDAQ:CSGP) by 52.4% during the 4th quarter, Holdings Channel reports. The firm owned 220,080 shares of the technology company’s stock after selling 242,540 shares during the quarter. Prudential Financial Inc.’s holdings in CoStar Group were worth $15,756,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CSGP. Cerity Partners LLC grew its stake in CoStar Group by 101.1% during the third quarter. Cerity Partners LLC now owns 14,553 shares of the technology company’s stock worth $1,098,000 after buying an additional 7,317 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of CoStar Group by 2.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 289,470 shares of the technology company’s stock worth $21,838,000 after acquiring an additional 8,169 shares in the last quarter. D.A. Davidson & CO. grew its position in CoStar Group by 11.9% during the 3rd quarter. D.A. Davidson & CO. now owns 27,914 shares of the technology company’s stock worth $2,106,000 after acquiring an additional 2,966 shares during the last quarter. Brooklyn Investment Group acquired a new stake in CoStar Group during the 3rd quarter valued at $91,000. Finally, Townsquare Capital LLC raised its position in CoStar Group by 12.5% in the 3rd quarter. Townsquare Capital LLC now owns 9,359 shares of the technology company’s stock valued at $706,000 after purchasing an additional 1,040 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

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 value of $139,745.10. Following the completion of the transaction, the chief accounting officer now 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 hyperlink. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the topic of several research analyst reports. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Citigroup lowered their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Down 0.3 %

NASDAQ CSGP opened at $80.13 on Friday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.64. The stock has a 50-day simple moving average of $76.85 and a 200 day simple moving average of $75.83. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $32.86 billion, a PE ratio of 228.94 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. Research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has initiated a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.