CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 40.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,929 shares of the technology company’s stock after selling 3,360 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in CoStar Group were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Colonial Trust Co SC grew its stake in shares of CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP grew its position in CoStar Group by 0.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock valued at $2,105,000 after buying an additional 146 shares during the last quarter. Allworth Financial LP grew its position in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares during the period. Finally, Moran Wealth Management LLC raised its position in CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock worth $588,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $76.99 on Friday. The stock has a fifty day moving average price of $78.03 and a 200 day moving average price of $76.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market cap of $32.48 billion, a PE ratio of 219.97 and a beta of 0.89. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $87.86.

CoStar Group (NASDAQ:CSGP) last released 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. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. Sell-side analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. Wells Fargo & Company lifted their price objective on CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a report on Wednesday, April 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Thursday, April 17th. Needham & Company LLC raised their price target on CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods upped their price objective on CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.31.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is currently owned by company insiders.

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.