CoStar Group, Inc. (NASDAQ:CSGP) Stake Decreased by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 358,206 shares of the technology company’s stock after selling 5,126 shares during the quarter. CoStar Group comprises about 1.1% of Granahan Investment Management LLC’s portfolio, making the stock its 29th biggest holding. Granahan Investment Management LLC’s holdings in CoStar Group were worth $25,644,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value 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 legal filing with the SEC, which is available through this link. Corporate insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CSGP. William Blair assumed coverage on CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Piper Sandler assumed coverage on CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. Finally, Needham & Company LLC raised their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.31.

CoStar Group Stock Down 1.7 %

CSGP opened at $74.56 on Friday. The company has a market capitalization of $31.45 billion, a PE ratio of 213.03 and a beta of 0.89. The business has a 50-day moving average of $78.26 and a 200-day moving average of $76.15. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $91.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

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

CoStar Group declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

CoStar Group Company 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.