Taikang Asset Management Hong Kong Co Ltd Decreases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Taikang Asset Management Hong Kong Co Ltd trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 40.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,766 shares of the technology company’s stock after selling 45,622 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in CoStar Group were worth $4,780,000 at the end of the most recent reporting period.

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

CoStar Group Price Performance

CSGP stock opened at $80.14 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The firm has a 50 day moving average price of $76.36 and a 200-day moving average price of $75.75. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.64. The firm has a market capitalization of $32.87 billion, a price-to-earnings ratio of 228.97 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. William Blair assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Needham & Company LLC decreased their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup cut their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the 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 sale, 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 SEC, which is accessible through this hyperlink. 1.57% of the stock is owned by company insiders.

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.