Maryland State Retirement & Pension System Sells 1,492 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Maryland State Retirement & Pension System cut its position in CoStar Group, Inc. (NASDAQ:CSGP) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,671 shares of the technology company’s stock after selling 1,492 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CoStar Group were worth $1,551,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Moran Wealth Management LLC raised its holdings in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares in the last quarter. Allworth Financial LP increased its holdings in shares of 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 acquiring an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of 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 acquiring an additional 176 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of 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 acquiring an additional 209 shares in the last quarter. Finally, FWG Holdings LLC increased its holdings in shares of CoStar Group by 3.5% during the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock valued at $494,000 after acquiring an additional 219 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the 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 transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Piper Sandler initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. Craig Hallum initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC cut their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Trading Down 0.7 %

CoStar Group stock opened at $78.46 on Friday. 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, Inc. has a 12 month low of $68.26 and a 12 month high of $97.73. The stock’s 50 day simple moving average is $76.15 and its two-hundred day simple moving average is $75.74. The firm has a market cap of $32.18 billion, a PE ratio of 224.17 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (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 firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.