CoStar Group, Inc. (NASDAQ:CSGP) Holdings Trimmed by Blair William & Co. IL

Blair William & Co. IL lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 11.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,393,951 shares of the technology company’s stock after selling 456,885 shares during the period. Blair William & Co. IL’s holdings in CoStar Group were worth $242,973,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

CSGP has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Citigroup cut their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price target for the company. Needham & Company LLC reduced their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $80.37 on Thursday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.64. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $76.72 and a 200 day simple moving average of $75.80. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 229.63 and a beta of 0.93.

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

CoStar Group declared that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is 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.