Geneva Capital Management LLC Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Geneva Capital Management LLC lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 390,671 shares of the technology company’s stock after selling 30,029 shares during the quarter. Geneva Capital Management LLC owned 0.10% of CoStar Group worth $27,968,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. ORG Partners LLC increased its position in 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 buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. increased its position 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 buying an additional 513 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the third quarter worth about $40,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, William Blair began coverage on CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating for the company. Two equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $77.81 on Thursday. The stock has a 50 day moving average of $74.51 and a 200 day moving average of $75.59. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The firm has a market cap of $31.91 billion, a PE ratio of 222.31 and a beta of 0.87. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

CoStar Group announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.