FORA Capital LLC Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

FORA Capital LLC decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 44.2% during the fourth quarter, HoldingsChannel reports. The firm owned 9,159 shares of the technology company’s stock after selling 7,260 shares during the quarter. FORA Capital LLC’s holdings in CoStar Group were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the 4th quarter valued at $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% in 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. acquired a new position in shares of CoStar Group in the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price target for the company. Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Needham & Company LLC upped their price target on shares of CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.31.

Insider Transactions at CoStar Group

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

CoStar Group Stock Performance

NASDAQ: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. The stock has a market capitalization of $31.45 billion, a PE ratio of 213.03 and a beta of 0.89. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $91.24. The company has a fifty day moving average of $78.26 and a two-hundred day moving average of $76.15.

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

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

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.