State of New Jersey Common Pension Fund D Has $11.48 Million Position in CoStar Group, Inc. $CSGP

State of New Jersey Common Pension Fund D trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new position in CoStar Group in the 1st quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in CoStar Group in the 1st quarter valued at $29,000. GKV Capital Management Co. Inc. acquired a new position in CoStar Group in the 1st quarter valued at $31,000. Zions Bancorporation National Association UT acquired a new position in CoStar Group in the 1st quarter valued at $31,000. Finally, Cullen Frost Bankers Inc. grew its holdings in CoStar Group by 137.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company’s stock valued at $32,000 after buying an additional 235 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction dated 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 trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the transaction, the insider owned 319,539 shares of the company’s stock, valued at $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock valued at $4,777,764 over the last quarter. Corporate insiders own 1.09% of the company’s stock.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $77.89 on Friday. The stock’s 50-day simple moving average is $84.24 and its 200 day simple moving average is $82.75. The firm has a market capitalization of $33.00 billion, a PE ratio of 311.56, a price-to-earnings-growth ratio of 3.66 and a beta of 0.87. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a twelve month low of $68.41 and a twelve month high of $97.43.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSGP. BMO Capital Markets increased their target price on CoStar Group from $82.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Citigroup increased their target price on CoStar Group from $91.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of CoStar Group in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of CoStar Group in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.15.

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.