Thoroughbred Financial Services LLC Lowers Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Thoroughbred Financial Services LLC trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,980 shares of the technology company’s stock after selling 141 shares during the period. Thoroughbred Financial Services LLC’s holdings in CoStar Group were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of CSGP. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the fourth quarter valued at $25,000. ORG Partners LLC grew its holdings in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the 4th quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in CoStar Group by 414.4% during 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. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC dropped their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler started coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $72.62 on Monday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $95.71. The company has a market capitalization of $29.78 billion, a P/E ratio of 207.49 and a beta of 0.88. 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 firm has a 50-day moving average price of $77.30 and a two-hundred day moving average price of $75.78.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has authorized 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.