Wellington Management Group LLP Trims Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Wellington Management Group LLP lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 42.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,693 shares of the technology company’s stock after selling 254,349 shares during the quarter. Wellington Management Group LLP owned 0.08% of CoStar Group worth $26,230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares during the period. Vulcan Value Partners LLC raised its holdings in shares of CoStar Group by 90.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after buying an additional 76,916 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after buying an additional 341,046 shares during the period. Hedge funds and other institutional investors 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 that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CSGP shares. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Trading Down 4.1 %

NASDAQ:CSGP opened at $75.07 on Friday. The stock has a 50-day simple moving average of $76.45 and a 200-day simple moving average of $76.03. The stock has a market cap of $30.78 billion, a P/E ratio of 170.62 and a beta of 0.83. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. As a group, analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

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.