Baird Financial Group Inc. Has $76.55 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Baird Financial Group Inc. lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,069,221 shares of the technology company's stock after selling 63,465 shares during the quarter. Baird Financial Group Inc. owned about 0.26% of CoStar Group worth $76,546,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Bamco Inc. NY lifted its stake in shares of CoStar Group by 2.2% during the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after acquiring an additional 418,128 shares during the period. Capital International Investors raised its holdings in CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC lifted its position in CoStar Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock valued at $819,678,000 after purchasing an additional 166,769 shares during the period. Akre Capital Management LLC boosted its stake in shares of CoStar Group by 4.3% in the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after purchasing an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC acquired a new stake in shares of CoStar Group during the 4th quarter worth approximately $465,134,000. Institutional investors own 96.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CSGP shares. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. William Blair assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating for the company. Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating on the stock. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Finally, JMP Securities restated a "market outperform" rating and set a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $88.31.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the 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 transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by insiders.

CoStar Group Price Performance

CSGP stock opened at $77.96 on Monday. The stock has a 50-day moving average price of $78.28 and a two-hundred day moving average price of $76.21. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $92.74. The stock has a market cap of $31.97 billion, a PE ratio of 222.74 and a beta of 0.88. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. Equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in 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 usually a sign that the company's management believes its shares are 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.

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