Brown Advisory Inc. Lowers Position in CoStar Group Inc (CSGP)

Brown Advisory Inc. lowered its stake in CoStar Group Inc (NASDAQ:CSGP) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,571 shares of the technology company’s stock after selling 1,492 shares during the period. Brown Advisory Inc.’s holdings in CoStar Group were worth $5,591,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CSGP. Robeco Institutional Asset Management B.V. raised its position in CoStar Group by 27.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,897 shares of the technology company’s stock valued at $5,849,000 after purchasing an additional 3,017 shares in the last quarter. Private Advisor Group LLC acquired a new stake in CoStar Group in the 3rd quarter valued at about $388,000. Comerica Bank raised its position in CoStar Group by 134.6% in the 3rd quarter. Comerica Bank now owns 4,553 shares of the technology company’s stock valued at $1,743,000 after purchasing an additional 2,612 shares in the last quarter. Wells Fargo & Company MN raised its position in CoStar Group by 11.8% in the 3rd quarter. Wells Fargo & Company MN now owns 158,128 shares of the technology company’s stock valued at $66,547,000 after purchasing an additional 16,629 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in CoStar Group by 16.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,729 shares of the technology company’s stock valued at $728,000 after purchasing an additional 249 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the company. B. Riley increased their price target on CoStar Group from $460.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Bank of America reiterated a “buy” rating and issued a $460.00 price objective (up previously from $429.00) on shares of CoStar Group in a report on Wednesday, February 27th. Wells Fargo & Co increased their price objective on CoStar Group from $475.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. SunTrust Banks increased their price objective on CoStar Group to $460.00 and gave the company a “positive” rating in a report on Wednesday, February 27th. Finally, BidaskClub upgraded CoStar Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. CoStar Group has an average rating of “Buy” and a consensus price target of $457.22.

CSGP opened at $469.13 on Friday. CoStar Group Inc has a one year low of $315.85 and a one year high of $484.92. The stock has a market capitalization of $17.10 billion, a PE ratio of 63.40, a price-to-earnings-growth ratio of 3.08 and a beta of 1.46.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 26th. The technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.28. CoStar Group had a return on equity of 9.30% and a net margin of 20.00%. The business had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.19 million. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, sell-side analysts forecast that CoStar Group Inc will post 9.03 earnings per share for the current year.

In related news, CFO Scott T. Wheeler sold 5,396 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $476.11, for a total transaction of $2,569,089.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Matthew Linnington sold 4,701 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $477.31, for a total value of $2,243,834.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,461 shares of company stock worth $31,346,029. Company insiders own 2.47% of the company’s stock.

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CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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