CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Ironvine Capital Partners LLC

Ironvine Capital Partners LLC cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 466,711 shares of the technology company’s stock after selling 5,341 shares during the quarter. CoStar Group comprises about 3.6% of Ironvine Capital Partners LLC’s investment portfolio, making the stock its 13th largest position. Ironvine Capital Partners LLC owned approximately 0.11% of CoStar Group worth $33,412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSGP. Capital International Investors raised its stake in shares of CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after buying an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC increased its holdings in CoStar Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock valued at $819,678,000 after acquiring an additional 166,769 shares in the last quarter. Akre Capital Management LLC raised its position in CoStar Group by 4.3% during the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock worth $666,781,000 after acquiring an additional 379,787 shares during the last quarter. Polen Capital Management LLC purchased a new stake in shares of CoStar Group in the fourth quarter valued at about $465,134,000. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of CoStar Group by 24.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock valued at $459,314,000 after purchasing an additional 1,267,263 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Up 3.9 %

Shares of NASDAQ CSGP opened at $80.87 on Wednesday. The stock has a market capitalization of $33.17 billion, a PE ratio of 231.06 and a beta of 0.88. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $77.72 and a 200-day moving average of $76.00. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $93.94.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm 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%. On average, analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction 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 directly owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CSGP. Citigroup reduced their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Piper Sandler assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Two 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.54.

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.