Handelsbanken Fonder AB Cuts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Handelsbanken Fonder AB lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,832 shares of the technology company’s stock after selling 4,136 shares during the quarter. Handelsbanken Fonder AB’s holdings in CoStar Group were worth $7,276,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CSGP. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $30,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of CoStar Group by 414.4% during the 4th 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 last quarter. Centricity Wealth Management LLC acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $40,000. Finally, Private Trust Co. NA raised its position in shares of CoStar Group by 969.5% during the 4th quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock worth $45,000 after purchasing an additional 572 shares during the last quarter. 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 several research reports. Bank of America initiated coverage on CoStar Group in a research report on Friday, May 30th. They set a “neutral” rating and a $79.00 price objective for the company. William Blair assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating for the company. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and issued a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $87.54.

CoStar Group Stock Up 0.7%

Shares of NASDAQ CSGP opened at $82.37 on Friday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $83.68. The firm has a fifty day moving average of $77.27 and a 200-day moving average of $76.39. The stock has a market capitalization of $34.75 billion, a PE ratio of 235.34 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

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