Federated Hermes Inc. Sells 192,855 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Federated Hermes Inc. decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,750,892 shares of the technology company’s stock after selling 192,855 shares during the quarter. Federated Hermes Inc. owned approximately 0.43% of CoStar Group worth $125,346,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CSGP. Hopwood Financial Services Inc. bought a new stake in CoStar Group in the fourth quarter worth about $25,000. ORG Partners LLC lifted its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in CoStar Group in the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the fourth quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. William Blair initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods reduced 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. Finally, 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, February 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average target price of $88.07.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction 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 approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

NASDAQ:CSGP opened at $72.62 on Friday. The company’s 50-day moving average is $77.30 and its two-hundred day moving average is $75.79. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market cap of $29.78 billion, a price-to-earnings ratio of 207.49 and a beta of 0.88. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $95.71.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm 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%. Research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.