Ensign Peak Advisors Inc Sells 177,931 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Ensign Peak Advisors Inc trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 888,434 shares of the technology company’s stock after selling 177,931 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.22% of CoStar Group worth $63,603,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of CoStar Group by 3.7% during the 4th quarter. Nordea Investment Management AB now owns 32,902 shares of the technology company’s stock worth $2,376,000 after purchasing an additional 1,172 shares during the last quarter. Diversified Trust Co raised its holdings in shares of CoStar Group by 8.6% in the 4th quarter. Diversified Trust Co now owns 3,789 shares of the technology company’s stock valued at $271,000 after purchasing an additional 301 shares during the period. Baker Tilly Wealth Management LLC raised its holdings in shares of CoStar Group by 18.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 7,777 shares of the technology company’s stock valued at $557,000 after purchasing an additional 1,224 shares during the period. Finally, ORG Partners LLC grew its holdings in CoStar Group by 534.8% during 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 during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CSGP shares. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Craig Hallum began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating on the stock. Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating for the company. Finally, StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.31.

CoStar Group Stock Performance

CSGP opened at $74.56 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 52-week low of $68.26 and a 52-week high of $91.24. The firm has a market cap of $31.45 billion, a P/E ratio of 213.03 and a beta of 0.89. The business’s fifty day moving average is $78.26 and its 200-day moving average is $76.15.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Sell-side analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.57% of the company’s stock.

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.