CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its position in CoStar Group, Inc. (NASDAQ:CSGP) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,968 shares of the technology company’s stock after selling 17,728 shares during the quarter. Handelsbanken Fonder AB’s holdings in CoStar Group were worth $6,870,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the third quarter worth approximately $40,000. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC raised its stake in shares of CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CoStar Group by 16.2% during the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of CoStar Group during the third quarter worth approximately $621,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of several analyst reports. Citigroup cut their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Wednesday. Wells Fargo & Company cut their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $88.00.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by company insiders.

CoStar Group Trading Down 2.0 %

Shares of CSGP stock opened at $76.79 on Friday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market cap of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87. The business has a fifty day simple moving average of $73.86 and a 200-day simple moving average of $75.42. 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 announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. On average, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.