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

Siemens Fonds Invest GmbH lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 40.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in shares of CoStar Group by 497.9% during 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 lifted its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after purchasing an additional 173 shares in the last quarter. Barclays PLC lifted its stake in CoStar Group by 91.4% during the third 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 in the last quarter. Krilogy Financial LLC boosted its position in shares of CoStar Group by 54.9% during the fourth quarter. Krilogy Financial LLC now owns 23,662 shares of the technology company’s stock worth $1,694,000 after buying an additional 8,387 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of CoStar Group by 12.6% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company’s stock valued at $13,874,000 after buying an additional 20,977 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSGP has been the topic of several research reports. Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating on the stock. Citigroup cut their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Needham & Company LLC raised their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.31.

CoStar Group Price Performance

Shares of CSGP opened at $76.99 on Friday. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 219.97 and a beta of 0.89. The firm’s fifty day simple moving average is $78.03 and its 200-day simple moving average is $76.25. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $87.86. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly 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. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction on Monday, March 10th. The shares were 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 owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.09% of the stock is owned by company insiders.

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.