First Bank & Trust Sells 2,379 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

First Bank & Trust cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,844 shares of the technology company’s stock after selling 2,379 shares during the period. First Bank & Trust’s holdings in CoStar Group were worth $1,492,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CSGP. ORG Partners LLC boosted its holdings in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in CoStar Group by 17,100.0% in 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the third quarter worth $40,000. Finally, CENTRAL TRUST Co boosted its holdings in CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after purchasing an additional 931 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent analyst reports. Citigroup decreased their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Stephens restated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $88.15.

CoStar Group Stock Up 5.0 %

Shares of CSGP opened at $79.21 on Thursday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a market cap of $32.47 billion, a price-to-earnings ratio of 226.31 and a beta of 0.87. The company has a 50-day moving average price of $73.79 and a two-hundred day moving average price of $75.34. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) 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 3.13% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has authorized a share buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

CoStar Group 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.