Kelly Lawrence W & Associates Inc. CA Trims Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Kelly Lawrence W & Associates Inc. CA cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,540 shares of the technology company's stock after selling 9,400 shares during the quarter. CoStar Group accounts for approximately 2.2% of Kelly Lawrence W & Associates Inc. CA's holdings, making the stock its 21st biggest holding. Kelly Lawrence W & Associates Inc. CA's holdings in CoStar Group were worth $9,274,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its position in CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after purchasing an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CoStar Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock valued at $819,678,000 after acquiring an additional 166,769 shares in the last quarter. Akre Capital Management LLC increased its position in CoStar Group by 4.3% during the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after purchasing an additional 379,787 shares during the period. Polen Capital Management LLC bought a new position in CoStar Group in the 4th quarter worth $465,134,000. Finally, Norges Bank purchased a new stake in shares of CoStar Group in the 4th quarter worth about $390,755,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSGP. Wells Fargo & Company lowered their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Citigroup reduced their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Stock Performance

CSGP traded up $1.01 during midday trading on Wednesday, hitting $81.88. 3,089,063 shares of the company traded hands, compared to its average volume of 2,750,165. The company's 50-day moving average is $77.72 and its 200 day moving average is $76.00. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $93.94. The firm has a market capitalization of $33.58 billion, a PE ratio of 233.95 and a beta of 0.88. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) 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 analysts' expectations of $703.00 million. On average, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is 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.