Ownership Capital B.V. Lowers Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Ownership Capital B.V. trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 28.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,038,387 shares of the technology company’s stock after selling 404,792 shares during the quarter. CoStar Group comprises approximately 2.7% of Ownership Capital B.V.’s holdings, making the stock its 17th biggest position. Ownership Capital B.V. owned about 0.25% of CoStar Group worth $74,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSGP. Moran Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 161 shares during the period. Allworth Financial LP lifted its holdings in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after purchasing an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after buying an additional 220 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CSGP. 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. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Wednesday. Finally, Needham & Company LLC reduced their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by insiders.

CoStar Group Stock Up 5.0 %

Shares of CSGP opened at $79.21 on Thursday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $73.79 and a 200 day moving average of $75.34. The company has a market cap of $32.47 billion, a PE ratio of 226.31 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results 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 net margin of 5.07% and a return on equity of 3.13%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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.