CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,638 shares of the technology company’s stock after selling 881 shares during the quarter. Fifth Third Bancorp’s holdings in CoStar Group were worth $547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of CoStar Group during the 2nd quarter worth approximately $54,000. Sanctuary Advisors LLC acquired a new stake in shares of CoStar Group during the 2nd quarter worth approximately $2,096,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CoStar Group during the 2nd quarter worth approximately $104,000. Centaurus Financial Inc. raised its position in shares of CoStar Group by 192.6% during the 2nd quarter. Centaurus Financial Inc. now owns 6,800 shares of the technology company’s stock worth $504,000 after purchasing an additional 4,476 shares during the period. Finally, Davis Capital Management raised its position in shares of CoStar Group by 12.5% during the 3rd quarter. Davis Capital Management now owns 12,664 shares of the technology company’s stock worth $955,000 after purchasing an additional 1,404 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CSGP. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Friday, January 10th. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.33.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $76.52 on Friday. The firm has a market cap of $31.37 billion, a P/E ratio of 173.91 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock has a fifty day moving average price of $74.75 and a two-hundred day moving average price of $75.41. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38.

Insider Transactions at CoStar Group

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

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.