Wellington Management Group LLP Sells 749,850 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Wellington Management Group LLP lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 20.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,830,699 shares of the technology company’s stock after selling 749,850 shares during the period. Wellington Management Group LLP owned about 0.69% of CoStar Group worth $247,375,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY boosted its holdings in shares of CoStar Group by 0.5% during the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after purchasing an additional 91,399 shares during the period. Norges Bank purchased a new stake in CoStar Group in the 4th quarter worth approximately $406,934,000. Brown Advisory Inc. grew its position in shares of CoStar Group by 10.1% in the 4th quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock worth $362,207,000 after buying an additional 380,859 shares during the last quarter. Capital International Investors increased its stake in shares of CoStar Group by 32.2% during the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after buying an additional 982,837 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of CoStar Group by 2.5% during the third quarter. Northern Trust Corp now owns 3,835,126 shares of the technology company’s stock valued at $294,883,000 after acquiring an additional 92,169 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 0.6 %

Shares of CoStar Group stock opened at $72.73 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The stock has a market capitalization of $29.70 billion, a PE ratio of 99.63, a price-to-earnings-growth ratio of 11.01 and a beta of 0.84. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a 50-day simple moving average of $85.02 and a two-hundred day simple moving average of $86.15.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. On average, analysts anticipate that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSGP. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Bank of America raised their target price on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. The Goldman Sachs Group raised their target price on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $109.00 target price on shares of CoStar Group in a research report on Friday, June 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

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.