Vanguard Group Inc. Cuts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Vanguard Group Inc. reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,717,391 shares of the technology company's stock after selling 36,929 shares during the quarter. Vanguard Group Inc. owned approximately 16.03% of CoStar Group worth $4,704,708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after buying an additional 176 shares during the period. Moran Wealth Management LLC increased its stake in CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after buying an additional 180 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company's stock valued at $1,443,000 after acquiring an additional 209 shares during the period. Finally, FWG Holdings LLC lifted its position in shares of CoStar Group by 3.5% in the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock valued at $494,000 after acquiring an additional 219 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated Monday, March 10th. The shares were 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 of the company's stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Stephens reiterated an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Needham & Company LLC dropped their target price on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a report 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 assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.07.

CoStar Group Trading Down 1.0 %

Shares of CSGP traded down $0.82 during midday trading on Friday, hitting $79.31. The stock had a trading volume of 2,545,029 shares, compared to its average volume of 2,639,799. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $96.98. 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 stock's 50 day moving average is $76.96 and its 200 day moving average is $75.83. The firm has a market cap of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million during 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%. As a group, analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

CoStar Group 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.