Blair William & Co. IL Trims Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Blair William & Co. IL cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,393,951 shares of the technology company’s stock after selling 456,885 shares during the period. Blair William & Co. IL owned 0.83% of CoStar Group worth $242,973,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CSGP. Polen Capital Management LLC acquired a new stake in CoStar Group during the fourth quarter valued at approximately $465,134,000. Barclays PLC increased its holdings in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp raised its position in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Finally, Amundi lifted its stake in CoStar Group by 30.1% during the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after purchasing an additional 650,454 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CSGP shares. 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. Needham & Company LLC cut their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. Finally, Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.07.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was 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 owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $80.37 on Thursday. The business has a 50 day moving average price of $76.72 and a two-hundred day moving average price of $75.80. 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 company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 229.63 and a beta of 0.93. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.64.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.