TD Private Client Wealth LLC Lowers Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

TD Private Client Wealth LLC reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 93.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,432 shares of the technology company’s stock after selling 20,527 shares during the quarter. TD Private Client Wealth LLC’s holdings in CoStar Group were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hopwood Financial Services Inc. bought a new stake in CoStar Group in the fourth quarter worth $25,000. ORG Partners LLC increased its position 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 purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new position in CoStar Group in the fourth quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group in the 4th quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Citigroup dropped their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. 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, Needham & Company LLC lowered their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.07.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $80.23 on Wednesday. The business’s 50 day moving average is $76.58 and its 200-day moving average is $75.77. 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 stock has a market cap of $32.90 billion, a PE ratio of 229.23 and a beta of 0.93. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.64.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has authorized a stock repurchase program 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 programs are generally a sign that the company’s board of directors believes its stock is 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.