CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by US Bancorp DE

US Bancorp DE reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,726 shares of the technology company's stock after selling 5,139 shares during the quarter. US Bancorp DE's holdings in CoStar Group were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC boosted its stake in shares of 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. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock valued at $37,000 after purchasing an additional 513 shares during the period. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the third quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC purchased a new stake in CoStar Group in the fourth quarter valued at approximately $40,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CSGP. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Stephens restated an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Piper Sandler assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating for the company. JMP Securities reiterated a "market outperform" rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price objective for the company. Two equities research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.07.

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CoStar Group Stock Up 3.3 %

Shares of NASDAQ CSGP traded up $2.53 during trading on Friday, reaching $79.39. 3,740,933 shares of the stock were exchanged, compared to its average volume of 3,294,107. The business's 50-day moving average price is $74.73 and its 200 day moving average price is $75.63. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $32.56 billion, a price-to-earnings ratio of 226.83 and a beta of 0.93.

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, hitting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.