Archon Partners LLC Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Archon Partners LLC lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,000 shares of the technology company's stock after selling 33,500 shares during the quarter. CoStar Group makes up approximately 1.3% of Archon Partners LLC's holdings, making the stock its 28th biggest holding. Archon Partners LLC's holdings in CoStar Group were worth $10,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group during the 4th quarter valued at about $25,000. ORG Partners LLC boosted its holdings in shares of CoStar Group by 534.8% in the fourth 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. bought a new stake in shares of CoStar Group during the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter worth $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of 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 period. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Down 0.5 %

Shares of NASDAQ:CSGP traded down $0.40 during trading on Friday, reaching $82.82. The stock had a trading volume of 2,295,385 shares, compared to its average volume of 2,738,498. The company has a market capitalization of $33.97 billion, a P/E ratio of 236.63 and a beta of 0.88. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $93.29. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm's 50-day simple moving average is $78.20 and its 200 day simple moving average is $76.16.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business 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%. As a group, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of analyst reports. Stephens restated an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating on the stock. Wells Fargo & Company decreased their price objective 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. The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and a consensus target price of $87.54.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by insiders.

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.