CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Cut by Barclays PLC

Barclays PLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,678,132 shares of the technology company's stock after selling 571,056 shares during the quarter. Barclays PLC owned approximately 0.41% of CoStar Group worth $120,137,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of CoStar Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after purchasing an additional 166,769 shares during the period. Polen Capital Management LLC acquired a new position in CoStar Group in the fourth quarter valued at about $465,134,000. Norges Bank purchased a new position in CoStar Group during the fourth quarter worth about $390,755,000. Invesco Ltd. increased its position in shares of CoStar Group by 13.0% during the fourth quarter. Invesco Ltd. now owns 4,234,995 shares of the technology company's stock valued at $303,183,000 after acquiring an additional 486,045 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of CoStar Group by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company's stock valued at $201,758,000 after acquiring an additional 133,876 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.57% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Thursday. Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating on the stock. Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Citigroup decreased their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, William Blair started coverage on CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Stock Performance

Shares of CoStar Group stock traded up $0.68 during trading hours on Friday, hitting $79.70. 2,033,905 shares of the company were exchanged, compared to its average volume of 2,747,212. The business has a 50-day moving average of $77.48 and a 200-day moving average of $75.92. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94. 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 stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 227.71 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting 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. As a group, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management 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.