Mirae Asset Global Investments Co. Ltd. Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

Mirae Asset Global Investments Co. Ltd. decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,696 shares of the technology company’s stock after selling 15,202 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CoStar Group were worth $7,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guidance Capital Inc. acquired a new stake in shares of CoStar Group in the fourth quarter worth $889,000. E. Ohman J or Asset Management AB acquired a new stake in CoStar Group during the 4th quarter worth about $881,000. Trust Point Inc. raised its stake in shares of CoStar Group by 206.0% during the 4th quarter. Trust Point Inc. now owns 10,685 shares of the technology company’s stock valued at $765,000 after buying an additional 7,193 shares during the last quarter. Alliance Wealth Advisors LLC UT acquired a new position in shares of CoStar Group in the 4th quarter valued at about $1,260,000. Finally, CENTRAL TRUST Co boosted its stake in shares of CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $77.25 on Friday. The company has a fifty day simple moving average of $74.39 and a 200-day simple moving average of $75.48. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.67 billion, a price-to-earnings ratio of 175.57 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. 1.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSGP. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. BMO Capital Markets decreased their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Citigroup dropped their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Friday, January 10th. Finally, Stephens restated an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $90.23.

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.