CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 952,195 shares of the technology company’s stock after selling 21,889 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of CoStar Group worth $68,168,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CSGP. Bleakley Financial Group LLC raised its holdings in shares of CoStar Group by 6.8% during the fourth quarter. Bleakley Financial Group LLC now owns 9,222 shares of the technology company’s stock worth $660,000 after acquiring an additional 584 shares in the last quarter. Vanderbilt University acquired a new position in CoStar Group in the 4th quarter worth about $2,703,000. Tectonic Advisors LLC purchased a new stake in shares of CoStar Group during the 4th quarter worth about $290,000. Guidance Capital Inc. acquired a new stake in shares of CoStar Group during the 4th quarter valued at about $889,000. Finally, E. Ohman J or Asset Management AB bought a new stake in shares of CoStar Group in the 4th quarter valued at approximately $881,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company assumed coverage on CoStar Group in a report on Wednesday, February 5th. They set an “underweight” rating and a $65.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Friday, January 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.23.

Insider Activity at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred 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 sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 1.2 %

Shares of CSGP opened at $77.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a 50-day simple moving average of $74.31 and a 200-day simple moving average of $75.49. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $31.67 billion, a P/E ratio of 175.57 and a beta of 0.87.

CoStar Group 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.