Thrivent Financial for Lutherans Sells 6,392 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Thrivent Financial for Lutherans lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 203,234 shares of the technology company's stock after selling 6,392 shares during the period. Thrivent Financial for Lutherans' holdings in CoStar Group were worth $14,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in shares of 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 purchasing an additional 722,153 shares in the last quarter. Geode Capital Management LLC grew its holdings in CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company's stock valued at $850,656,000 after buying an additional 236,407 shares in the last quarter. Polen Capital Management LLC bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $465,134,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CoStar Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company's stock worth $201,758,000 after buying an additional 133,876 shares in the last quarter. Finally, Amundi lifted its holdings in shares of CoStar Group by 30.1% in the fourth quarter. Amundi now owns 2,810,540 shares of the technology company's stock worth $200,504,000 after buying an additional 650,454 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

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CoStar Group Trading Up 0.2 %

CSGP stock traded up $0.14 during trading on Wednesday, hitting $80.37. The company had a trading volume of 1,938,302 shares, compared to its average volume of 2,538,382. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.64. The company has a 50 day simple moving average of $76.58 and a 200-day simple moving average of $75.77. The firm has a market capitalization of $32.96 billion, a P/E ratio of 229.63 and a beta of 0.93. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting 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 the consensus estimate of $703.00 million. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.57% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price target on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. The Goldman Sachs Group began coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. Citigroup decreased their price objective on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, JMP Securities reissued a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus target price 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.