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

Parallel Advisors LLC decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 5.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,094 shares of the technology company’s stock after selling 342 shares during the quarter. Parallel Advisors LLC’s holdings in CoStar Group were worth $436,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the 4th quarter worth $25,000. ORG Partners LLC boosted its position in shares of 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 purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group during the 4th quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in CoStar Group by 17,100.0% during 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 buying an additional 513 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Activity

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.57% of the stock is currently owned by insiders.

CoStar Group Stock Performance

CSGP stock opened at $78.46 on Friday. 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 firm has a 50 day moving average of $76.15 and a two-hundred day moving average of $75.74. 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, Inc. has a 12 month low of $68.26 and a 12 month high of $97.73.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, equities analysts anticipate 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 permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. William Blair initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. The Goldman Sachs Group started coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.07.

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.