Ownership Capital B.V. Sells 404,792 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Ownership Capital B.V. cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 28.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,038,387 shares of the technology company’s stock after selling 404,792 shares during the period. CoStar Group comprises about 2.7% of Ownership Capital B.V.’s investment portfolio, making the stock its 17th largest holding. Ownership Capital B.V.’s holdings in CoStar Group were worth $74,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CSGP. Barclays PLC increased its stake in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. grew its holdings in CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares in the last quarter. State Street Corp increased its position in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of CoStar Group in the 3rd quarter valued at about $48,768,000. Finally, Icon Wealth Advisors LLC raised its holdings in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after purchasing an additional 405,062 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CSGP shares. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets cut their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup reduced their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Insider Activity at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by insiders.

CoStar Group Trading Up 5.0 %

Shares of CoStar Group stock opened at $79.21 on Thursday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm’s 50 day simple moving average is $73.79 and its two-hundred day simple moving average is $75.34. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 226.31 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.13% and a net margin of 5.07%. Analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a share buyback 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 stock is undervalued.

About CoStar Group

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.