CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 140,490 shares of the technology company’s stock after selling 7,901 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CoStar Group were worth $10,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock worth $511,000 after purchasing an additional 5,940 shares during the period. Allworth Financial LP raised its holdings in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after purchasing an additional 173 shares during the period. Barclays PLC raised its holdings in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in CoStar Group by 12.6% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company’s stock worth $13,874,000 after purchasing an additional 20,977 shares during the period. Finally, Vantage Investment Partners LLC raised its holdings in CoStar Group by 21.6% in the 4th quarter. Vantage Investment Partners LLC now owns 614,014 shares of the technology company’s stock worth $43,957,000 after purchasing an additional 108,998 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

CSGP stock opened at $73.99 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business has a 50 day simple moving average of $77.63 and a 200-day simple moving average of $76.26. The firm has a market capitalization of $31.22 billion, a PE ratio of 211.40 and a beta of 0.89. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $85.78.

CoStar Group declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSGP has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Needham & Company LLC boosted their price objective on CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their price objective on CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Citigroup cut their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.31.

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.