CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 33.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,650 shares of the technology company’s stock after selling 184,051 shares during the period. Corient Private Wealth LLC owned about 0.09% of CoStar Group worth $25,676,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC increased its holdings in CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in CoStar Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after purchasing an additional 133,876 shares during the period. Amundi increased its holdings in CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after purchasing an additional 650,454 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 2.2 %

CSGP opened at $78.36 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business has a 50 day simple moving average of $75.66 and a 200-day simple moving average of $75.69. The stock has a market capitalization of $32.14 billion, a P/E ratio of 223.89 and a beta of 0.93. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.91.

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, 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 firm had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating on the stock. Needham & Company LLC dropped their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Two 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’s stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $88.07.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’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 value of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by company insiders.

About CoStar Group

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.