Flputnam Investment Management Co. Has $332,000 Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Flputnam Investment Management Co. trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 10.4% in the fourth quarter, Holdings Channel reports. The firm owned 4,639 shares of the technology company’s stock after selling 540 shares during the quarter. Flputnam Investment Management Co.’s holdings in CoStar Group were worth $332,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSGP. 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 valued at $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 236,407 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after acquiring an additional 76,916 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 period. Finally, Barclays PLC increased its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup cut their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler began coverage on CoStar Group in a report on Friday. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $75.39 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 215.40 and a beta of 0.87. The stock has a fifty day moving average price of $74.36 and a 200-day moving average price of $75.56.

CoStar Group (NASDAQ:CSGP) last posted 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 net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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.