Lindbrook Capital LLC Lowers Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Lindbrook Capital LLC decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 31.5% in the 4th quarter, HoldingsChannel reports. The firm owned 620 shares of the technology company’s stock after selling 285 shares during the quarter. Lindbrook Capital LLC’s holdings in CoStar Group were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CSGP. ORG Partners LLC lifted its stake in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the fourth quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the fourth quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after acquiring an additional 513 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $79.39 on Friday. The firm’s fifty day simple moving average is $74.73 and its 200-day simple moving average is $75.63. The stock has a market capitalization of $32.56 billion, a price-to-earnings ratio of 226.83 and a beta of 0.93. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. 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 (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding 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 often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating for the company. Craig Hallum started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.