Motley Fool Wealth Management LLC Reduces Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Motley Fool Wealth Management LLC cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,439 shares of the technology company’s stock after selling 35,014 shares during the period. CoStar Group comprises about 1.3% of Motley Fool Wealth Management LLC’s holdings, making the stock its 18th largest position. Motley Fool Wealth Management LLC owned about 0.09% of CoStar Group worth $25,533,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CSGP. Allworth Financial LP boosted its holdings in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after acquiring an additional 173 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares in the last quarter. Moran Wealth Management LLC boosted its stake in shares of CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after purchasing an additional 180 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 209 shares in the last quarter. Finally, FWG Holdings LLC increased its stake in CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after buying an additional 219 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CSGP shares. Craig Hallum began coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. The Goldman Sachs Group started coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Piper Sandler initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company cut their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Up 0.1 %

Shares of CoStar Group stock opened at $80.23 on Wednesday. The stock has a market capitalization of $32.90 billion, a price-to-earnings ratio of 229.23 and a beta of 0.93. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.64. 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 business’s 50 day simple moving average is $76.58 and its 200-day simple moving average is $75.77.

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, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Equities research 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 share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.57% 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.