CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,094 shares of the technology company’s stock after selling 342 shares during the quarter. Parallel Advisors LLC’s holdings in CoStar Group were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group in the fourth quarter worth $25,000. ORG Partners LLC increased its position in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.46 on Friday. The business has a 50 day simple moving average of $76.15 and a 200 day simple moving average of $75.74. 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 firm has a market capitalization of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.73.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC cut their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup decreased their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

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.