Lindbrook Capital LLC Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Lindbrook Capital LLC reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 620 shares of the technology company’s stock after selling 285 shares during the period. Lindbrook Capital LLC’s holdings in CoStar Group were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. ORG Partners LLC lifted its stake in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the third quarter worth about $40,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of CSGP opened at $79.39 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market cap of $32.56 billion, a PE ratio of 226.83 and a beta of 0.93. The firm has a 50-day simple moving average of $74.73 and a two-hundred day simple moving average of $75.63. 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 (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 net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. William Blair began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Needham & Company LLC cut their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.