Corient Private Wealth LLC Sells 184,051 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Corient Private Wealth LLC decreased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 33.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 358,650 shares of the technology company's stock after selling 184,051 shares during the period. Corient Private Wealth LLC owned about 0.09% of CoStar Group worth $25,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Apollon Wealth Management LLC bought a new position in CoStar Group in the 3rd quarter valued at $278,000. GSA Capital Partners LLP bought a new position in shares of CoStar Group in the third quarter valued at about $230,000. Empowered Funds LLC lifted its position in CoStar Group by 7.8% during the 3rd quarter. Empowered Funds LLC now owns 6,414 shares of the technology company's stock worth $484,000 after buying an additional 463 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in CoStar Group by 1.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 209,626 shares of the technology company's stock worth $15,814,000 after acquiring an additional 3,023 shares during the last quarter. Finally, Swiss National Bank increased its position in CoStar Group by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,212,400 shares of the technology company's stock valued at $91,463,000 after acquiring an additional 3,200 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSGP has been the topic of several research analyst reports. JMP Securities reissued a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Citigroup lowered their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and an average price target of $88.07.

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Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is currently owned by company insiders.

CoStar Group Trading Down 0.7 %

CSGP stock traded down $0.56 during midday trading on Friday, hitting $78.46. 4,383,489 shares of the company's stock were exchanged, compared to its average volume of 2,542,789. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.73. 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 company has a market cap of $32.18 billion, a PE ratio of 224.17 and a beta of 0.93. The stock's fifty day moving average price is $76.15 and its 200-day moving average price is $75.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. Research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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