State of New Jersey Common Pension Fund D Sells 12,584 Shares of CoStar Group, Inc. $CSGP

State of New Jersey Common Pension Fund D trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.1% in the second quarter, Holdings Channel.com reports. The fund owned 142,759 shares of the technology company’s stock after selling 12,584 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CoStar Group were worth $11,478,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in CoStar Group by 28.3% during the first quarter. GAMMA Investing LLC now owns 6,335 shares of the technology company’s stock worth $502,000 after purchasing an additional 1,397 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in CoStar Group by 6.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,131 shares of the technology company’s stock worth $3,021,000 after purchasing an additional 2,241 shares during the period. Perigon Wealth Management LLC grew its stake in CoStar Group by 7.1% during the first quarter. Perigon Wealth Management LLC now owns 5,681 shares of the technology company’s stock worth $450,000 after purchasing an additional 376 shares during the period. Sequoia Financial Advisors LLC grew its stake in CoStar Group by 371.9% in the first quarter. Sequoia Financial Advisors LLC now owns 46,073 shares of the technology company’s stock valued at $3,650,000 after acquiring an additional 36,310 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in CoStar Group by 19.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,608 shares of the technology company’s stock valued at $10,359,000 after acquiring an additional 20,912 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CSGP shares. BTIG Research started coverage on CoStar Group in a research note on Friday, October 3rd. They issued a “neutral” rating for the company. BMO Capital Markets lifted their target price on CoStar Group from $82.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Needham & Company LLC lifted their target price on CoStar Group from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Citigroup lifted their target price on CoStar Group from $91.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.15.

CoStar Group Stock Up 0.3%

CSGP stock opened at $77.89 on Friday. The stock’s fifty day simple moving average is $84.24 and its two-hundred day simple moving average is $82.75. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 1-year low of $68.41 and a 1-year high of $97.43. The stock has a market cap of $33.00 billion, a P/E ratio of 311.56, a P/E/G ratio of 3.66 and a beta of 0.87.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the transaction, the insider owned 319,539 shares of the company’s stock, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,033 shares of company stock worth $4,777,764. Insiders own 1.09% 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.