Barclays PLC Has $120.14 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Barclays PLC reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,678,132 shares of the technology company’s stock after selling 571,056 shares during the period. Barclays PLC owned 0.41% of CoStar Group worth $120,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock worth $819,678,000 after buying an additional 166,769 shares during the last quarter. Polen Capital Management LLC acquired a new position in shares of CoStar Group during the 4th quarter worth about $465,134,000. Norges Bank bought a new stake in shares of CoStar Group in the 4th quarter valued at about $390,755,000. Invesco Ltd. lifted its stake in CoStar Group by 13.0% in the 4th quarter. Invesco Ltd. now owns 4,234,995 shares of the technology company’s stock valued at $303,183,000 after purchasing an additional 486,045 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CoStar Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after purchasing an additional 133,876 shares during the period. 96.60% of the stock is owned by institutional investors.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $80.51 on Wednesday. The stock has a market capitalization of $33.02 billion, a PE ratio of 230.03 and a beta of 0.88. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. 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 business has a fifty day moving average price of $77.32 and a two-hundred day moving average price of $75.83.

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. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. As a group, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has approved a share 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Citigroup cut their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. William Blair began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. Finally, Craig Hallum assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.54.

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.