Ownership Capital B.V. Trims Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Ownership Capital B.V. trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 28.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,038,387 shares of the technology company's stock after selling 404,792 shares during the quarter. CoStar Group accounts for approximately 2.7% of Ownership Capital B.V.'s holdings, making the stock its 17th biggest holding. Ownership Capital B.V. owned approximately 0.25% of CoStar Group worth $74,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSGP. Barclays PLC raised its position in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the period. JPMorgan Chase & Co. grew its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after acquiring an additional 1,001,177 shares in the last quarter. State Street Corp grew its stake in CoStar Group by 4.4% in the 3rd 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. Point72 Asset Management L.P. bought a new position in CoStar Group in the 3rd quarter worth about $48,768,000. Finally, Icon Wealth Advisors LLC grew its stake in CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company's stock worth $30,925,000 after acquiring an additional 405,062 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSGP shares. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Wednesday. Stephens reiterated an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday. Needham & Company LLC dropped their price objective on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Citigroup dropped their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded down $1.54 during midday trading on Friday, reaching $76.79. The company had a trading volume of 4,667,016 shares, compared to its average volume of 2,816,777. The business's 50-day simple moving average is $73.83 and its 200 day simple moving average is $75.39. The stock has a market cap of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. 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 (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 firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. On average, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

About CoStar Group

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.