CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by National Pension Service

National Pension Service cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 51.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 491,746 shares of the technology company’s stock after selling 529,197 shares during the period. National Pension Service owned about 0.12% of CoStar Group worth $35,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moran Wealth Management LLC lifted its position in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after purchasing an additional 161 shares during the period. Allworth Financial LP lifted its position in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. lifted its position in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 209 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after purchasing an additional 220 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CSGP shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research report on Friday. They set a “buy” rating and a $89.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Needham & Company LLC cut their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Citigroup cut their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a report on Friday. They issued an “overweight” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Up 2.5 %

CSGP stock opened at $76.25 on Friday. The stock has a market capitalization of $31.27 billion, a P/E ratio of 217.86 and a beta of 0.87. The firm has a 50-day simple moving average of $74.30 and a 200-day simple moving average of $75.52. 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, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

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 the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. Equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management 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.