CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 23.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,752 shares of the technology company’s stock after selling 4,256 shares during the quarter. Metis Global Partners LLC’s holdings in CoStar Group were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSGP. ORG Partners LLC lifted its stake in shares of 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 buying an additional 353 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group during the 4th quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the third quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC acquired a new position in CoStar Group in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler started coverage on shares of CoStar Group in a report on Friday. They issued an “overweight” rating on the stock. The Goldman Sachs Group initiated coverage on CoStar Group in a report on Friday. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered their price target 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. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $75.58 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business has a 50 day simple moving average of $74.41 and a two-hundred day simple moving average of $75.57. The stock has a market capitalization of $31.00 billion, a P/E ratio of 215.94 and a beta of 0.87. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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 return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, analysts predict 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 allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About CoStar Group

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.