Bank of Montreal Can Sells 77,516 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Bank of Montreal Can decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,384 shares of the technology company’s stock after selling 77,516 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of CoStar Group worth $38,972,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSGP. Quantinno Capital Management LP raised its stake in CoStar Group by 70.6% during the 3rd quarter. Quantinno Capital Management LP now owns 14,926 shares of the technology company’s stock worth $1,126,000 after acquiring an additional 6,175 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of CoStar Group in the third quarter worth $621,000. MML Investors Services LLC raised its position in shares of CoStar Group by 1.2% during the 3rd quarter. MML Investors Services LLC now owns 86,009 shares of the technology company’s stock valued at $6,488,000 after purchasing an additional 1,021 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of CoStar Group by 6.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 135,039 shares of the technology company’s stock valued at $10,187,000 after buying an additional 8,326 shares in the last quarter. Finally, Barclays PLC boosted its holdings in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’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 transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.57% of the company’s stock.

CoStar Group Trading Down 4.2 %

CSGP opened at $75.42 on Friday. The stock has a 50-day moving average of $77.23 and a 200 day moving average of $75.73. 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 $93.94. The firm has a market cap of $30.93 billion, a P/E ratio of 215.49 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $703.00 million. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CSGP shares. Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Finally, William Blair assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating on the stock. 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’s stock. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus 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.