E Fund Management Co. Ltd. Decreases Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

E Fund Management Co. Ltd. trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,067 shares of the technology company’s stock after selling 425 shares during the period. E Fund Management Co. Ltd.’s holdings in CoStar Group were worth $355,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in 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 purchasing an additional 173 shares during the period. Pinnacle Bancorp Inc. purchased a new position in CoStar Group in the 4th quarter worth approximately $37,000. CVA Family Office LLC purchased a new position in CoStar Group in the 4th quarter worth approximately $60,000. KB Financial Partners LLC increased its stake in CoStar Group by 17.9% in the 3rd quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock worth $63,000 after purchasing an additional 124 shares during the period. Finally, Lindbrook Capital LLC increased its stake in 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 during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Citigroup boosted their target price on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BTIG Research assumed coverage on CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets boosted their target price on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Stock Up 1.1 %

Shares of CSGP stock traded up $1.02 during mid-day trading on Thursday, hitting $91.34. The company’s stock had a trading volume of 1,121,363 shares, compared to its average volume of 2,135,095. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The business has a 50-day moving average price of $90.90 and a 200 day moving average price of $85.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The stock has a market cap of $37.30 billion, a price-to-earnings ratio of 125.27, a PEG ratio of 10.21 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. CoStar Group’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. Research analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Insider Activity at CoStar Group

In related news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the sale, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. 1.58% of the stock is owned by company insiders.

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.