CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 907,848 shares of the technology company's stock after selling 40,934 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.22% of CoStar Group worth $64,993,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group in the 4th quarter valued at about $25,000. ORG Partners LLC boosted its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group during the 4th quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after buying an additional 402 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

NASDAQ CSGP traded down $0.40 on Friday, hitting $82.82. 2,295,385 shares of the company's stock traded hands, compared to its average volume of 2,738,498. The firm's 50-day moving average price is $78.20 and its two-hundred day moving average price is $76.16. The firm has a market capitalization of $33.97 billion, a PE ratio of 236.63 and a beta of 0.88. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $93.29.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $703.00 million. As a group, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

CSGP has been the subject of several analyst reports. 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. Wells Fargo & Company decreased their target price on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. Craig Hallum assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. Needham & Company LLC dropped their target price on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Finally, Piper Sandler started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and an average target price of $87.54.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on 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 directly owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.57% of the company's stock.

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.