CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Lowered by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA lessened its position in CoStar Group, Inc. (NASDAQ:CSGP) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,490 shares of the technology company’s stock after selling 1,545 shares during the period. CHICAGO TRUST Co NA’s holdings in CoStar Group were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Citizens Bank & Trust Co. raised its stake in shares of CoStar Group by 1,535.3% in the 1st quarter. First Citizens Bank & Trust Co. now owns 102,846 shares of the technology company’s stock worth $8,148,000 after buying an additional 96,557 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of CoStar Group by 21.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 10,956 shares of the technology company’s stock worth $868,000 after buying an additional 1,901 shares in the last quarter. Wedmont Private Capital bought a new stake in shares of CoStar Group in the 1st quarter worth $225,000. UMB Bank n.a. raised its stake in shares of CoStar Group by 1.8% in the 1st quarter. UMB Bank n.a. now owns 84,108 shares of the technology company’s stock worth $6,664,000 after buying an additional 1,455 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC grew its holdings in shares of CoStar Group by 11.2% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 66,356 shares of the technology company’s stock worth $5,257,000 after acquiring an additional 6,683 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSGP. Wells Fargo & Company lifted their target price on CoStar Group from $63.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, April 30th. William Blair began coverage on CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Finally, Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $87.54.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.52 on Monday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $83.68. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $33.13 billion, a price-to-earnings ratio of 224.34 and a beta of 0.87. The stock’s fifty day simple moving average is $76.88 and its 200-day simple moving average is $76.31.

CoStar Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign 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.