Sei Investments Co. Sells 525,849 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sei Investments Co. lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 44.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 654,715 shares of the technology company’s stock after selling 525,849 shares during the period. Sei Investments Co. owned approximately 0.16% of CoStar Group worth $46,872,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC boosted its stake 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 buying an additional 236,407 shares during the period. Polen Capital Management LLC bought a new position in CoStar Group during the fourth quarter valued at $465,134,000. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 133,876 shares during the period. Finally, Amundi lifted its holdings in shares of CoStar Group by 30.1% in the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after acquiring an additional 650,454 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s 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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price target for the company. Craig Hallum assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating on the stock. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating on the stock. 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 stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Up 2.1 %

Shares of NASDAQ CSGP opened at $80.14 on Tuesday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.64. The stock’s fifty day simple moving average is $76.36 and its two-hundred day simple moving average is $75.75. The stock has a market capitalization of $32.87 billion, a PE ratio of 228.97 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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, meeting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are 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.