CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 57,433 shares of the technology company’s stock after selling 1,144 shares during the period. Schroder Investment Management Group’s holdings in CoStar Group were worth $4,112,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

CSGP has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Down 4.9 %

NASDAQ CSGP opened at $72.62 on Friday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $95.71. The firm has a 50-day moving average price of $77.30 and a 200 day moving average price of $75.79. The stock has a market capitalization of $29.78 billion, a P/E ratio of 207.49 and a beta of 0.88. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

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

CoStar Group declared that its Board of Directors has authorized 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 an indication that the company’s leadership 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.