Erste Asset Management GmbH Sells 70,000 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Erste Asset Management GmbH cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 30.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,000 shares of the technology company's stock after selling 70,000 shares during the quarter. Erste Asset Management GmbH's holdings in CoStar Group were worth $11,491,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. increased its position in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after buying an additional 1,001,177 shares during the period. State Street Corp increased its position in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after buying an additional 722,153 shares during the period. Amundi increased its position in CoStar Group by 30.1% in the fourth quarter. Amundi now owns 2,810,540 shares of the technology company's stock worth $200,504,000 after buying an additional 650,454 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in CoStar Group in the third quarter worth $48,768,000. 96.60% of the stock is currently owned by institutional investors.

Insider Activity at CoStar Group

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

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CoStar Group Trading Down 2.2 %

Shares of CSGP stock traded down $1.79 on Tuesday, reaching $78.36. 2,733,748 shares of the stock were exchanged, compared to its average volume of 2,547,931. The stock has a 50 day moving average price of $75.50 and a 200 day moving average price of $75.68. The stock has a market cap of $32.14 billion, a PE ratio of 223.89 and a beta of 0.93. 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 $100.38.

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

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CSGP. Piper Sandler began coverage on CoStar Group in a report on Friday, February 28th. They set an "overweight" rating on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 price target on the stock. StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Finally, Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.07.

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.