Assetmark Inc. Sells 65,383 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Assetmark Inc. reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 95.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,276 shares of the technology company's stock after selling 65,383 shares during the period. Assetmark Inc.'s holdings in CoStar Group were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CSGP. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the third quarter worth $40,000. JPMorgan Chase & Co. lifted its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC boosted its stake in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock worth $37,720,000 after purchasing an additional 150,000 shares during the period. PNC Financial Services Group Inc. grew its holdings in CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company's stock valued at $7,812,000 after purchasing an additional 14,468 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in CoStar Group during the 3rd quarter valued at about $621,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSGP. Citigroup decreased their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Craig Hallum began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating for the company. Piper Sandler began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.07.

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CoStar Group Stock Performance

CSGP stock opened at $75.44 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The firm has a market cap of $30.94 billion, a price-to-earnings ratio of 215.54 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The firm has a 50-day simple moving average of $75.19 and a two-hundred day simple moving average of $75.67.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates 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, equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

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.

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