PNC Financial Services Group Inc. Has $6.55 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

PNC Financial Services Group Inc. reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,486 shares of the technology company's stock after selling 12,061 shares during the period. PNC Financial Services Group Inc.'s holdings in CoStar Group were worth $6,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CSGP. ORG Partners LLC boosted its position in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in CoStar Group during the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock valued at $37,000 after purchasing an additional 513 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in CoStar Group during the third quarter valued at approximately $40,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. William Blair started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective on the stock. Stephens restated an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Needham & Company LLC dropped their price objective on CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.07.

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Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.57% of the company's stock.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded up $3.29 during trading hours on Friday, reaching $78.73. 2,874,362 shares of the stock were exchanged, compared to its average volume of 3,343,156. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock's fifty day simple moving average is $75.32 and its 200 day simple moving average is $75.66.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

About CoStar Group

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.