CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Assetmark Inc.

Assetmark Inc. cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 95.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,276 shares of the technology company’s stock after selling 65,383 shares during the quarter. Assetmark Inc.’s holdings in CoStar Group were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Moran Wealth Management LLC boosted its holdings in shares of CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP boosted its holdings in CoStar Group by 9.7% in the fourth 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 holdings 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 purchasing an additional 176 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position 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 worth $1,443,000 after purchasing an additional 209 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after buying an additional 220 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of recent research reports. Craig Hallum began coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Finally, William Blair began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Trading Down 1.8 %

CSGP stock opened at $75.44 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The business’s 50-day moving average is $75.19 and its 200 day moving average is $75.67. 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 stock has a market cap of $30.94 billion, a price-to-earnings ratio of 215.54 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

CoStar Group 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.