First Horizon Advisors Inc. Decreases Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

First Horizon Advisors Inc. lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 19.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,567 shares of the technology company’s stock after selling 882 shares during the period. First Horizon Advisors Inc.’s holdings in CoStar Group were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the 3rd quarter worth about $40,000. JPMorgan Chase & Co. boosted its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC grew its position in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 150,000 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $621,000. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CSGP shares. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped 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. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group Stock Up 0.1 %

Shares of NASDAQ:CSGP opened at $77.60 on Wednesday. The firm has a fifty day moving average price of $74.00 and a two-hundred day moving average price of $75.49. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 221.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are 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.