Smartleaf Asset Management LLC Sells 480 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Smartleaf Asset Management LLC lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 5,174 shares of the technology company’s stock after selling 480 shares during the period. Smartleaf Asset Management LLC’s holdings in CoStar Group were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp grew its holdings in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC lifted its position in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after buying an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CoStar Group by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after acquiring an additional 76,916 shares during the period. JPMorgan Chase & Co. increased its holdings in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Finally, Barclays PLC raised its stake in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the period. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Finally, Craig Hallum began coverage on CoStar Group in a report on Friday. They issued a “buy” rating for the company. Two 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Price Performance

CoStar Group stock opened at $75.58 on Wednesday. The business has a 50-day simple moving average of $74.41 and a 200 day simple moving average of $75.57. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 215.94 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 (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has initiated a share repurchase program 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 programs are often a sign that the company’s board believes its stock is 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.