Coldstream Capital Management Inc. Trims Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Coldstream Capital Management Inc. decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 23.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,885 shares of the technology company’s stock after selling 1,485 shares during the period. Coldstream Capital Management Inc.’s holdings in CoStar Group were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in CoStar Group in the 4th quarter valued at approximately $25,000. ORG Partners LLC boosted its position in shares of CoStar Group by 534.8% during 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 during the period. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CSGP shares. JPMorgan Chase & Co. lowered their target price 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 target price on shares of CoStar Group in a report on Thursday, April 17th. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. William Blair assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating on the stock. Finally, Citigroup decreased their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $88.31.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.17 on Thursday. 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 52 week low of $68.26 and a 52 week high of $92.74. The firm’s 50 day moving average is $78.29 and its two-hundred day moving average is $76.24. The firm has a market capitalization of $30.42 billion, a P/E ratio of 211.91 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS 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 firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. Research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.