Malaga Cove Capital LLC Sells 734 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Malaga Cove Capital LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,118 shares of the technology company’s stock after selling 734 shares during the quarter. Malaga Cove Capital LLC’s holdings in CoStar Group were worth $1,870,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CSGP. Hopwood Financial Services Inc. bought a new position in CoStar Group in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth approximately $32,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares during the period. 96.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. 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. Piper Sandler initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Two investment 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. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.31.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $75.18 on Wednesday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $89.84. 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 stock has a market capitalization of $31.72 billion, a price-to-earnings ratio of 214.80 and a beta of 0.89. The company’s 50 day simple moving average is $78.17 and its 200 day simple moving average is $76.19.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share 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 analyst estimates of $703.00 million. As a group, research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The shares were 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 approximately $2,353,534.40. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

About CoStar Group

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.