Baird Financial Group Inc. Sells 63,465 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Baird Financial Group Inc. lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,069,221 shares of the technology company's stock after selling 63,465 shares during the period. Baird Financial Group Inc. owned approximately 0.26% of CoStar Group worth $76,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the fourth quarter valued at about $25,000. ORG Partners LLC raised its position in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the fourth quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Down 1.7 %

CSGP traded down $1.29 during midday trading on Friday, reaching $74.56. 2,300,106 shares of the company were exchanged, compared to its average volume of 2,851,950. The company has a market cap of $31.45 billion, a price-to-earnings ratio of 213.03 and a beta of 0.89. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $90.93. The company's fifty day moving average price is $78.26 and its 200 day moving average price is $76.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CSGP. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 19th. Citigroup reduced their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Stephens reissued an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Wells Fargo & Company lifted their price target on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. Finally, Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.31.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were 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. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.57% of the company's stock.

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.