UniSuper Management Pty Ltd Sells 17,769 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

UniSuper Management Pty Ltd decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 31.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,226 shares of the technology company’s stock after selling 17,769 shares during the quarter. UniSuper Management Pty Ltd’s holdings in CoStar Group were worth $2,808,000 at the end of the most recent quarter.

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

Insider Activity

In other CoStar Group 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 transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 1.0 %

Shares of CoStar Group stock opened at $79.31 on Friday. The company has a 50-day simple moving average of $76.96 and a two-hundred day simple moving average of $75.81. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $96.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market capitalization of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93.

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

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Citigroup decreased their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company cut their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group began coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group 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.