US Bancorp DE Sells 5,139 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

US Bancorp DE cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,726 shares of the technology company’s stock after selling 5,139 shares during the period. US Bancorp DE’s holdings in CoStar Group were worth $4,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in CoStar Group by 1.4% during the 3rd quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock worth $5,268,000 after purchasing an additional 993 shares during the last quarter. National Pension Service raised its position in CoStar Group by 0.7% during the 3rd quarter. National Pension Service now owns 1,020,943 shares of the technology company’s stock worth $77,020,000 after purchasing an additional 6,826 shares during the last quarter. Asset Management One Co. Ltd. raised its position in CoStar Group by 12.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 282,828 shares of the technology company’s stock worth $21,337,000 after purchasing an additional 32,302 shares during the last quarter. QRG Capital Management Inc. raised its position in CoStar Group by 22.6% during the 3rd quarter. QRG Capital Management Inc. now owns 22,945 shares of the technology company’s stock worth $1,731,000 after purchasing an additional 4,235 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in CoStar Group by 11.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 318,616 shares of the technology company’s stock worth $24,036,000 after purchasing an additional 32,290 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price 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. Wells Fargo & Company decreased their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group began coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Performance

Shares of CSGP opened at $77.81 on Thursday. The company has a market cap of $31.91 billion, a PE ratio of 222.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The stock has a 50-day moving average of $74.51 and a 200-day moving average of $75.59.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (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%. On average, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s board believes its shares are 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.