Sei Investments Co. Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Sei Investments Co. cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 44.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 654,715 shares of the technology company’s stock after selling 525,849 shares during the quarter. Sei Investments Co.’s holdings in CoStar Group were worth $46,872,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in CoStar Group during the 4th quarter valued at about $25,000. ORG Partners LLC lifted its holdings in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSGP. Citigroup dropped their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Craig Hallum assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. JPMorgan Chase & Co. lowered their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Up 2.1 %

CSGP opened at $80.14 on Tuesday. The firm has a market capitalization of $32.87 billion, a price-to-earnings ratio of 228.97 and a beta of 0.93. The company’s 50 day simple moving average is $76.36 and its two-hundred day simple moving average is $75.75. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.