CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,090 shares of the technology company’s stock after selling 443 shares during the period. Signaturefd LLC’s holdings in CoStar Group were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at $25,000. ORG Partners LLC grew its position in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of CoStar Group by 17,100.0% in 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 purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CSGP shares. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. William Blair started coverage on CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating on the stock. Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued 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 Trading Down 0.7 %

NASDAQ CSGP opened at $78.46 on Friday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.73. The company has a market capitalization of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93. 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’s fifty day moving average price is $76.15 and its 200 day moving average price is $75.74.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate 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%. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction 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 represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.57% of the company’s stock.

About CoStar Group

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.