US Bancorp DE Sells 5,139 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

US Bancorp DE lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 69,726 shares of the technology company’s stock after selling 5,139 shares during the quarter. US Bancorp DE’s holdings in CoStar Group were worth $4,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the 3rd quarter worth approximately $40,000. JPMorgan Chase & Co. raised its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. Telemark Asset Management LLC raised its holdings in shares of CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $621,000. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Piper Sandler assumed coverage on shares of CoStar Group in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Up 3.0 %

CSGP opened at $77.81 on Thursday. The company has a fifty day moving average price of $74.51 and a 200-day moving average price of $75.59. The firm has a market capitalization of $31.91 billion, a P/E ratio of 222.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities 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 initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board 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.