National Bank of Canada FI Sells 32,567 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

National Bank of Canada FI lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 260,581 shares of the technology company’s stock after selling 32,567 shares during the quarter. National Bank of Canada FI’s holdings in CoStar Group were worth $18,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSGP. Allworth Financial LP increased its holdings in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after acquiring an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares during the period. Moran Wealth Management LLC increased its holdings in shares of CoStar Group by 2.2% in the fourth 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 during the last quarter. FWG Holdings LLC raised its position in shares of CoStar Group by 3.5% in the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock valued at $494,000 after purchasing an additional 219 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after buying an additional 220 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other 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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.57% of the stock is owned by corporate insiders.

CoStar Group Trading Down 4.5 %

Shares of CSGP stock opened at $76.35 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $95.71. The company has a market cap of $31.31 billion, a PE ratio of 218.14 and a beta of 0.93. The stock’s fifty day moving average price is $77.33 and its two-hundred day moving average price is $75.83.

CoStar Group (NASDAQ:CSGP) last released its 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 for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. 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 authorized 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of research analyst reports. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Craig Hallum initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. JMP Securities reissued a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.