Vontobel Holding Ltd. Lowers Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Vontobel Holding Ltd. reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,080 shares of the technology company's stock after selling 5,209 shares during the quarter. Vontobel Holding Ltd.'s holdings in CoStar Group were worth $578,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSGP. Moran Wealth Management LLC lifted its holdings in CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company's stock worth $606,000 after buying an additional 161 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company's stock worth $1,443,000 after buying an additional 209 shares during the period. Bell Bank lifted its holdings in CoStar Group by 1.3% in the 3rd quarter. Bell Bank now owns 18,232 shares of the technology company's stock worth $1,375,000 after buying an additional 234 shares during the period. FWG Holdings LLC lifted its holdings in CoStar Group by 4.1% in the 3rd quarter. FWG Holdings LLC now owns 6,212 shares of the technology company's stock worth $462,000 after buying an additional 247 shares during the period. Finally, Diversified Trust Co lifted its holdings in CoStar Group by 8.6% in the 4th quarter. Diversified Trust Co now owns 3,789 shares of the technology company's stock worth $271,000 after buying an additional 301 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSGP. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Keefe, Bruyette & Woods decreased their target price on 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 decreased their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reduced their target price on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

CoStar Group Stock Performance

NASDAQ CSGP traded down $1.56 on Friday, hitting $76.77. 2,334,769 shares of the company traded hands, compared to its average volume of 2,742,496. The company has a market capitalization of $31.47 billion, a price-to-earnings ratio of 219.30 and a beta of 0.87. 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's 50 day moving average price is $73.83 and its 200-day moving average price is $75.39. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS 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 the consensus estimate of $703.00 million. Equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has initiated 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors 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.