Caisse DE Depot ET Placement DU Quebec Lowers Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 52.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,744 shares of the technology company's stock after selling 24,995 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in CoStar Group were worth $1,628,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP increased its holdings in 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 acquiring an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in 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 during the period. Moran Wealth Management LLC raised its position in shares of CoStar Group by 2.2% in the 4th 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 period. FWG Holdings LLC grew its holdings in shares of 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 purchasing an additional 219 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in 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 during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's 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 sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CSGP. Needham & Company LLC boosted their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research 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 assigned a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.31.

CoStar Group Price Performance

CSGP traded up $0.51 on Thursday, hitting $75.85. 2,325,986 shares of the stock were exchanged, compared to its average volume of 2,842,215. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $91.78. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 216.71 and a beta of 0.89. The business has a 50-day moving average of $78.27 and a two-hundred day moving average of $76.18.

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 for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. Sell-side analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

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.