HBK Sorce Advisory LLC Sells 420 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

HBK Sorce Advisory LLC lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,615 shares of the technology company’s stock after selling 420 shares during the quarter. HBK Sorce Advisory LLC’s holdings in CoStar Group were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Hopwood Financial Services Inc. bought a new position in CoStar Group during the 4th quarter worth approximately $25,000. ORG Partners LLC boosted its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group during the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after acquiring an additional 513 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 4.4 %

CSGP stock opened at $78.73 on Friday. The company has a market cap of $32.29 billion, a PE ratio of 224.94 and a beta of 0.93. The business has a 50-day simple moving average of $75.32 and a 200 day simple moving average of $75.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during 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%. Sell-side 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 buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CSGP. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. William Blair began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.