CoStar Group, Inc. (NASDAQ:CSGP) Position Lifted by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,242 shares of the technology company's stock after buying an additional 7,712 shares during the period. Motley Fool Asset Management LLC's holdings in CoStar Group were worth $5,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $25,000. ORG Partners LLC grew its holdings 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 worth $30,000 after buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group during the 4th quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of CoStar Group by 17,100.0% in the 4th 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. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other 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 value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. This 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. Insiders own 1.57% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have issued reports on CSGP shares. Citigroup dropped their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their target price on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 19th. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

CoStar Group Trading Down 0.7 %

NASDAQ CSGP traded down $0.56 during trading hours on Tuesday, hitting $75.20. 1,638,761 shares of the company's stock were exchanged, compared to its average volume of 2,689,486. 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 firm has a market capitalization of $30.84 billion, a P/E ratio of 215.85 and a beta of 0.88. The business's 50 day moving average is $77.28 and its 200-day moving average is $75.76. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $95.71.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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 business had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. As a group, analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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