CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,980 shares of the technology company’s stock after selling 141 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in CoStar Group were worth $499,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in shares of CoStar Group in the fourth quarter valued at about $25,000. ORG Partners LLC raised its position in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. acquired a new position in CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after acquiring an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’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 represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

Shares of CSGP opened at $72.62 on Monday. The stock has a 50-day simple moving average of $77.30 and a 200-day simple moving average of $75.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $95.71. The stock has a market capitalization of $29.78 billion, a PE ratio of 207.49 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting 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. On average, analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. William Blair started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.07.

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.