Nuveen Asset Management LLC Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Nuveen Asset Management LLC reduced its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 15.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,080,673 shares of the technology company's stock after selling 204,001 shares during the quarter. Nuveen Asset Management LLC owned about 0.26% of CoStar Group worth $77,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CSGP. Barclays PLC grew its holdings in CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of CoStar Group by 1.9% during the fourth quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company's stock worth $2,081,000 after purchasing an additional 542 shares during the period. Gateway Investment Advisers LLC grew its stake in CoStar Group by 41.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 43,077 shares of the technology company's stock worth $3,084,000 after buying an additional 12,692 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of CoStar Group in the 4th quarter worth about $248,000. Finally, Integrated Investment Consultants LLC grew its position in CoStar Group by 18.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 5,439 shares of the technology company's stock worth $389,000 after purchasing an additional 841 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.09% of the company's stock.

CoStar Group Trading Down 0.7%

CoStar Group stock traded down $0.54 during trading hours on Tuesday, hitting $76.37. The stock had a trading volume of 3,421,243 shares, compared to its average volume of 2,885,815. The business's 50 day simple moving average is $78.03 and its 200-day simple moving average is $76.30. The stock has a market cap of $32.22 billion, a price-to-earnings ratio of 218.20 and a beta of 0.89. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $87.86. The company has a quick ratio of 9.63, a current ratio of 8.96 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 for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $703.00 million. On average, equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent analyst reports. JMP Securities restated a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research report on Wednesday, April 30th. Piper Sandler began coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating for the company. Wells Fargo & Company upped their price target on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CoStar Group has an average rating of "Moderate Buy" and an average target price of $88.31.

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.