Gulf International Bank UK Ltd Lowers Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Gulf International Bank UK Ltd lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,964 shares of the technology company’s stock after selling 312 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CoStar Group were worth $2,288,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Moran Wealth Management LLC boosted its stake in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after buying an additional 161 shares during the period. Allworth Financial LP boosted its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. boosted its stake in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after buying an additional 176 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after buying an additional 209 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday. They set a “buy” rating for the company. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research report on Friday. They set a “buy” rating and a $89.00 price target on the stock. Finally, Needham & Company LLC reduced their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Up 2.5 %

Shares of NASDAQ:CSGP opened at $76.25 on Friday. The firm’s 50 day moving average price is $74.30 and its 200 day moving average price is $75.52. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. 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 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 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to analyst estimates 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 research analysts predict 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 approved a stock buyback 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is 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.