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

Bank of Montreal Can lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 544,384 shares of the technology company's stock after selling 77,516 shares during the period. Bank of Montreal Can owned approximately 0.13% of CoStar Group worth $38,972,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after buying an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock valued at $557,000 after purchasing an additional 176 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock valued at $588,000 after purchasing an additional 180 shares during the last quarter. FWG Holdings LLC grew its holdings in shares of CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock valued at $494,000 after purchasing an additional 219 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in CoStar Group by 5.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock valued at $317,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

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Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CSGP shares. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. The Goldman Sachs Group started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 price objective for the company. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods decreased their price target on CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $87.54.

CoStar Group Stock Down 0.4 %

Shares of CSGP traded down $0.29 on Wednesday, reaching $80.22. The company's stock had a trading volume of 305,540 shares, compared to its average volume of 2,728,498. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $93.94. The stock has a market capitalization of $32.90 billion, a PE ratio of 229.21 and a beta of 0.88. 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 has a fifty day moving average of $77.32 and a 200-day moving average of $75.83.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $703.00 million. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are 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.