CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,433 shares of the technology company’s stock after selling 1,144 shares during the quarter. Schroder Investment Management Group’s holdings in CoStar Group were worth $4,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake 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 worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Geode Capital Management LLC boosted its position in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares in the last quarter. Polen Capital Management LLC acquired a new stake in CoStar Group in the fourth quarter valued at approximately $465,134,000. Norges Bank acquired a new stake in CoStar Group in the fourth quarter valued at approximately $390,755,000. Finally, Charles Schwab Investment Management Inc. increased its position 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 valued at $201,758,000 after buying an additional 133,876 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock 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. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $95.71. 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 firm has a market capitalization of $29.78 billion, a price-to-earnings ratio of 207.49 and a beta of 0.88.

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

CoStar Group announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits 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 management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSGP. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. Citigroup dropped their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Craig Hallum assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Wells Fargo & Company lowered their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Finally, Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on 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 owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is owned by insiders.

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.