State of Alaska Department of Revenue Cuts Position in CoStar Group, Inc. (NASDAQ:CSGP)

State of Alaska Department of Revenue lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,741 shares of the technology company’s stock after selling 800 shares during the quarter. State of Alaska Department of Revenue’s holdings in CoStar Group were worth $3,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the 3rd quarter valued at $40,000. JPMorgan Chase & Co. raised its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC lifted its holdings in CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after buying an additional 150,000 shares during the last quarter. Swedbank AB boosted its position in shares of CoStar Group by 469.3% during the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after acquiring an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after acquiring an additional 14,468 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the 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 completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CSGP. Wells Fargo & Company initiated coverage on CoStar Group in a research note on Wednesday, February 5th. They set an “underweight” rating and a $65.00 target price for the company. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Friday, January 10th. Finally, BMO Capital Markets cut their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $90.23.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $77.25 on Monday. The stock has a fifty day moving average price of $74.31 and a 200 day moving average price of $75.49. 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 current ratio of 9.63 and a quick ratio of 9.63. The company has a market cap of $31.67 billion, a PE ratio of 175.57 and a beta of 0.87.

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.