FORA Capital LLC Decreases Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

FORA Capital LLC trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 44.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,159 shares of the technology company's stock after selling 7,260 shares during the quarter. FORA Capital LLC's holdings in CoStar Group were worth $656,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC increased its stake in shares of CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP raised its stake in CoStar Group by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock worth $2,105,000 after acquiring an additional 146 shares in the last quarter. Allworth Financial LP raised its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after acquiring an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after acquiring an additional 176 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake 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 valued at $588,000 after purchasing an additional 180 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Down 0.3%

CSGP stock traded down $0.20 during trading on Tuesday, reaching $75.18. 2,818,995 shares of the stock were exchanged, compared to its average volume of 2,860,711. The firm's 50 day moving average is $78.21 and its 200 day moving average is $76.20. The firm has a market cap of $31.72 billion, a P/E ratio of 214.80 and a beta of 0.89. 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, Inc. has a twelve month low of $68.26 and a twelve month high of $89.84.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results 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 company had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several research reports. JMP Securities reissued a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, April 30th. William Blair initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 price objective on the stock. Craig Hallum started coverage on CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating for the company. Finally, Stephens reiterated an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Two 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. Based on data from MarketBeat, the stock currently 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.