National Bank of Canada FI Sells 32,567 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

National Bank of Canada FI lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,581 shares of the technology company's stock after selling 32,567 shares during the quarter. National Bank of Canada FI owned about 0.06% of CoStar Group worth $18,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CSGP. Polen Capital Management LLC acquired a new stake in CoStar Group in the fourth quarter worth about $465,134,000. Norges Bank bought a new position in shares of CoStar Group in the 4th quarter worth $390,755,000. Barclays PLC increased its stake in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 1,001,177 shares during the period. Finally, State Street Corp lifted its holdings in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $0.57 during mid-day trading on Tuesday, reaching $76.32. 1,545,723 shares of the company's stock were exchanged, compared to its average volume of 2,688,800. 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 $31.30 billion, a PE ratio of 218.33 and a beta of 0.88. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $95.71. The business's fifty day simple moving average is $77.28 and its two-hundred day simple moving average is $75.76.

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

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

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the 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 sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

CSGP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 target price for the company. Stephens reissued an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods cut their price target 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. William Blair began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating on the stock. Finally, Citigroup dropped their target price on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Two 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. Based on data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

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.