Louisiana State Employees Retirement System Decreases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Louisiana State Employees Retirement System reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,000 shares of the technology company’s stock after selling 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in CoStar Group were worth $3,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSGP. ORG Partners LLC grew its position in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after acquiring an additional 513 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the third quarter worth about $40,000. Finally, CENTRAL TRUST Co increased its position in shares of CoStar Group by 1,825.5% during the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after purchasing an additional 931 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Down 3.6 %

Shares of CoStar Group stock opened at $73.27 on Thursday. The firm has a market cap of $30.04 billion, a price-to-earnings ratio of 166.53 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company’s 50-day simple moving average is $74.17 and its 200-day simple moving average is $75.46. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSGP shares. 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. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Friday, January 10th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.23.

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.