CoStar Group, Inc. (NASDAQ:CSGP) Stake Lessened by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 39.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,080 shares of the technology company’s stock after selling 5,209 shares during the period. Vontobel Holding Ltd.’s holdings in CoStar Group were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSGP. Barclays PLC increased its stake in 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 purchasing an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. State Street Corp increased its stake in CoStar Group by 4.4% during the third 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 last quarter. Point72 Asset Management L.P. bought a new stake in CoStar Group during the third quarter valued at $48,768,000. Finally, Icon Wealth Advisors LLC increased its stake in CoStar Group by 8,314.1% during the third 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 during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.15.

CoStar Group Stock Up 5.0 %

NASDAQ CSGP opened at $79.21 on Thursday. The stock has a fifty day moving average of $73.79 and a 200-day moving average of $75.34. The stock has a market capitalization of $32.47 billion, a P/E ratio of 180.03 and a beta of 0.87. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

CoStar Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was 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 the SEC website. Corporate insiders own 1.57% of the company’s stock.

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.