Commerce Bank Decreases Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Commerce Bank lowered its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,652 shares of the technology company's stock after selling 34,245 shares during the quarter. Commerce Bank's holdings in CoStar Group were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CSGP. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. William Blair began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price objective for the company. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research note on Thursday, April 17th. Two 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. According to MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and an average target price of $87.54.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $80.87 on Wednesday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $93.94. The firm has a market capitalization of $33.17 billion, a P/E ratio of 231.06 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 business has a fifty day simple moving average of $77.72 and a two-hundred day simple moving average of $76.00.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (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 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by company 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.

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