Bell Bank Sells 4,489 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Bell Bank lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 25.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,396 shares of the technology company’s stock after selling 4,489 shares during the quarter. Bell Bank’s holdings in CoStar Group were worth $1,061,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CSGP. Hopwood Financial Services Inc. purchased a new stake in shares of CoStar Group in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group in the 4th quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC boosted 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 acquiring an additional 402 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of CoStar Group in the 4th quarter valued at $40,000. Finally, Private Trust Co. NA boosted its holdings in shares of CoStar Group by 969.5% in the 4th quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock valued at $45,000 after acquiring an additional 572 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stephens assumed coverage on shares of CoStar Group in a report on Monday. They issued an “overweight” rating and a $105.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. William Blair initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Needham & Company LLC increased their price target on shares of CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.69.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $81.94 on Tuesday. 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 company has a fifty day moving average of $77.60 and a two-hundred day moving average of $76.32. The stock has a market capitalization of $34.57 billion, a PE ratio of 234.11 and a beta of 0.87. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $83.68.

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