Institute for Wealth Management LLC. Lowers Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Institute for Wealth Management LLC. decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,547 shares of the technology company’s stock after selling 5,106 shares during the period. Institute for Wealth Management LLC.’s holdings in CoStar Group were worth $1,256,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. ORG Partners LLC grew its position in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Finally, Quarry LP acquired a new stake in CoStar Group in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction 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. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by insiders.

CoStar Group Price Performance

CoStar Group stock opened at $76.52 on Friday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $31.37 billion, a P/E ratio of 173.91 and a beta of 0.85. The company has a 50-day moving average price of $74.75 and a 200 day moving average price of $75.41. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSGP shares. BMO Capital Markets reduced their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $92.33.

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.