Sei Investments Co. Cuts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Sei Investments Co. reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 44.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 654,715 shares of the technology company's stock after selling 525,849 shares during the quarter. Sei Investments Co. owned 0.16% of CoStar Group worth $46,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. GSA Capital Partners LLP bought a new stake in shares of CoStar Group in the third quarter worth $230,000. Empowered Funds LLC increased its position in shares of CoStar Group by 7.8% during the 3rd quarter. Empowered Funds LLC now owns 6,414 shares of the technology company's stock valued at $484,000 after purchasing an additional 463 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of CoStar Group by 101.1% in the 3rd quarter. Cerity Partners LLC now owns 14,553 shares of the technology company's stock worth $1,098,000 after purchasing an additional 7,317 shares during the period. Swedbank AB boosted its holdings in shares of CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company's stock worth $18,712,000 after buying an additional 204,474 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in CoStar Group by 206.5% during the third quarter. Centaurus Financial Inc. now owns 20,842 shares of the technology company's stock valued at $1,572,000 after buying an additional 14,042 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.57% of the company's stock.

CoStar Group Stock Down 1.0 %

CSGP stock traded down $0.82 during mid-day trading on Friday, reaching $79.31. The company had a trading volume of 2,545,029 shares, compared to its average volume of 2,639,799. The firm has a fifty day simple moving average of $76.85 and a 200 day simple moving average of $75.83. 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 company has a market capitalization of $32.53 billion, a price-to-earnings ratio of 226.60 and a beta of 0.93. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $96.98.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million for 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 forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has authorized a share 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CSGP shares. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 price target for the company. Craig Hallum started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating on the stock. William Blair started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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.