CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 29.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,311 shares of the technology company’s stock after selling 12,766 shares during the quarter. Gateway Investment Advisers LLC’s holdings in CoStar Group were worth $2,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after purchasing an additional 402 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of CoStar Group in the 4th quarter valued at $40,000. Finally, Private Trust Co. NA raised its holdings in shares of CoStar Group by 969.5% in the 4th quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock valued at $45,000 after purchasing an additional 572 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSGP has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Thursday, April 17th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. 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 research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $87.54.

CoStar Group Trading Up 0.4%

Shares of CoStar Group stock opened at $78.52 on Monday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $83.68. 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 company has a market capitalization of $33.13 billion, a P/E ratio of 224.34 and a beta of 0.87. The company’s fifty day moving average is $76.88 and its two-hundred day moving average is $76.31.

CoStar Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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.