Peregrine Capital Management LLC Sells 28,096 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Peregrine Capital Management LLC cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 598,655 shares of the technology company’s stock after selling 28,096 shares during the quarter. CoStar Group accounts for about 1.3% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Peregrine Capital Management LLC owned approximately 0.15% of CoStar Group worth $42,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC boosted its holdings in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares during the period. Moran Wealth Management LLC lifted its position in shares of CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares during the period. Allworth Financial LP increased its position in shares of CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after buying an additional 176 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after acquiring an additional 209 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Wednesday, January 29th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Wells Fargo & Company started coverage on shares of CoStar Group in a research note on Wednesday, February 5th. They set an “underweight” rating and a $65.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. Finally, Citigroup decreased their target price on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given 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 Buying and Selling at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.06 on Tuesday. The stock has a 50-day moving average price of $73.90 and a 200 day moving average price of $75.36. The stock has a market capitalization of $30.36 billion, a P/E ratio of 168.32 and a beta of 0.87. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

About CoStar Group

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.