CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,750,892 shares of the technology company's stock after selling 192,855 shares during the quarter. Federated Hermes Inc. owned about 0.43% of CoStar Group worth $125,346,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CSGP. Hopwood Financial Services Inc. bought a new position in CoStar Group during the 4th quarter valued at about $25,000. ORG Partners LLC grew its stake in shares of 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 buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group in the fourth quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CoStar Group during the 4th quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

CSGP stock traded up $1.17 during midday trading on Friday, reaching $76.59. The stock had a trading volume of 642,276 shares, compared to its average volume of 2,724,953. The firm has a fifty day simple moving average of $77.23 and a two-hundred day simple moving average of $75.73. 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 stock has a market cap of $31.41 billion, a PE ratio of 218.69 and a beta of 0.88. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $93.94.

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CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share 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 company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Stephens reissued an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Royal Bank of Canada restated a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Wells Fargo & Company cut their price target on CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Finally, Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm'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 sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

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.