Wells Fargo & Company MN Sells 20,225 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Wells Fargo & Company MN lessened its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,156,079 shares of the technology company's stock after selling 20,225 shares during the period. Wells Fargo & Company MN owned 0.28% of CoStar Group worth $82,764,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. raised its position in CoStar Group by 2.3% during 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 during the last quarter. Moran Wealth Management LLC lifted its holdings in CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after buying an additional 180 shares during the period. FWG Holdings LLC grew its position in shares of CoStar Group by 3.5% in the 4th 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 last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock valued at $317,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

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CoStar Group Stock Up 2.6 %

CoStar Group stock traded up $1.97 during mid-day trading on Friday, reaching $77.39. The stock had a trading volume of 2,224,793 shares, compared to its average volume of 2,739,405. The company has a market capitalization of $31.74 billion, a price-to-earnings ratio of 221.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $93.94. The company has a 50-day moving average price of $77.23 and a two-hundred day moving average price of $75.77.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm'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 sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.57% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CSGP. Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating for the company. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a research report on Tuesday, January 28th. Citigroup reduced their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Finally, Craig Hallum assumed coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

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.