Oarsman Capital Inc. Sells 1,148 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Oarsman Capital Inc. decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 13.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,590 shares of the technology company’s stock after selling 1,148 shares during the quarter. Oarsman Capital Inc.’s holdings in CoStar Group were worth $543,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after purchasing an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of CoStar Group by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock worth $588,000 after buying an additional 180 shares during the last quarter. FWG Holdings LLC grew its stake in shares of CoStar Group by 3.5% during the fourth 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 last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CSGP shares. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods reduced their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Finally, 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 report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Trading Down 4.9 %

NASDAQ CSGP opened at $72.62 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $95.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business has a 50 day simple moving average of $77.30 and a 200 day simple moving average of $75.79. The stock has a market capitalization of $29.78 billion, a P/E ratio of 207.49 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The company 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%. Research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.57% of the company’s stock.

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.