Truist Financial Corp Has $10.10 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Truist Financial Corp cut its position in CoStar Group, Inc. (NASDAQ:CSGP) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,060 shares of the technology company’s stock after selling 7,035 shares during the period. Truist Financial Corp’s holdings in CoStar Group were worth $10,098,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Moran Wealth Management LLC grew its stake in shares of CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after buying an additional 161 shares during the period. Allworth Financial LP boosted its stake in CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after purchasing an additional 173 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 209 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after purchasing an additional 220 shares during the last quarter. Finally, Bell Bank boosted its stake in CoStar Group by 1.3% during the 3rd quarter. Bell Bank now owns 18,232 shares of the technology company’s stock valued at $1,375,000 after purchasing an additional 234 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSGP. Citigroup cut their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC dropped their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

CoStar Group Trading Down 2.0 %

NASDAQ:CSGP opened at $76.79 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. The firm’s 50 day moving average is $73.83 and its 200 day moving average is $75.39. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. Sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign 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.