Sumitomo Life Insurance Co. Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Sumitomo Life Insurance Co. cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,018 shares of the technology company’s stock after selling 467 shares during the period. Sumitomo Life Insurance Co.’s holdings in CoStar Group were worth $1,719,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Geode Capital Management LLC grew its holdings in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after buying an additional 76,916 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the period. Finally, Barclays PLC lifted its position in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Friday, January 10th. Finally, Citigroup lowered their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.33.

Insider Buying and Selling at CoStar Group

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

CoStar Group Trading Down 0.6 %

Shares of CSGP stock opened at $75.65 on Thursday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company’s 50-day moving average price is $74.76 and its 200-day moving average price is $75.41. The stock has a market cap of $31.01 billion, a price-to-earnings ratio of 171.94 and a beta of 0.85.

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.