CoStar Group, Inc. (NASDAQ:CSGP) Position Trimmed by Next Century Growth Investors LLC

Next Century Growth Investors LLC reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 48.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,506 shares of the technology company's stock after selling 12,485 shares during the period. Next Century Growth Investors LLC's holdings in CoStar Group were worth $967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the 4th quarter worth $25,000. ORG Partners LLC increased its holdings in CoStar Group by 534.8% during 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group during the 4th quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in shares of CoStar Group by 414.4% during 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 in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is currently owned by insiders.

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CoStar Group Stock Performance

Shares of CSGP stock traded up $0.98 during trading hours on Tuesday, reaching $80.51. The stock had a trading volume of 2,594,572 shares, compared to its average volume of 2,737,751. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm has a 50-day simple moving average of $77.27 and a 200-day simple moving average of $75.80. The firm has a market capitalization of $33.02 billion, a PE ratio of 230.03 and a beta of 0.88. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

CSGP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. JMP Securities reaffirmed a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Wells Fargo & Company lowered their price objective on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating on the stock. Finally, Stephens reiterated an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.54.

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.