Handelsbanken Fonder AB Sells 4,136 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Handelsbanken Fonder AB trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,832 shares of the technology company's stock after selling 4,136 shares during the period. Handelsbanken Fonder AB's holdings in CoStar Group were worth $7,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. SG Americas Securities LLC boosted its position in shares of CoStar Group by 204.7% in the first quarter. SG Americas Securities LLC now owns 15,717 shares of the technology company's stock worth $1,245,000 after buying an additional 10,558 shares during the period. GAMMA Investing LLC raised its position in CoStar Group by 28.3% during the first quarter. GAMMA Investing LLC now owns 6,335 shares of the technology company's stock valued at $502,000 after buying an additional 1,397 shares during the period. Yousif Capital Management LLC lifted its stake in CoStar Group by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 49,722 shares of the technology company's stock worth $3,939,000 after acquiring an additional 618 shares in the last quarter. Regatta Capital Group LLC boosted its position in CoStar Group by 2.4% during the 1st quarter. Regatta Capital Group LLC now owns 12,621 shares of the technology company's stock worth $1,000,000 after acquiring an additional 301 shares during the period. Finally, Octavia Wealth Advisors LLC purchased a new position in CoStar Group during the 1st quarter valued at about $828,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective on the stock. JMP Securities reissued a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Piper Sandler started coverage on CoStar Group in a report on Friday, February 28th. They set an "overweight" rating for the company. Finally, Bank of America began coverage on CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Stock Performance

CSGP traded down $1.21 on Friday, hitting $81.16. The company had a trading volume of 2,666,725 shares, compared to its average volume of 2,923,351. The stock has a market cap of $34.24 billion, a price-to-earnings ratio of 231.89 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company's fifty day moving average price is $77.27 and its 200 day moving average price is $76.39. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $83.68.

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

CoStar Group Company 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.