Ieq Capital LLC Decreases Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Ieq Capital LLC cut its position in CoStar Group, Inc. (NASDAQ:CSGP) by 58.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,261 shares of the technology company’s stock after selling 11,667 shares during the quarter. Ieq Capital LLC’s holdings in CoStar Group were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings 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 purchasing an additional 353 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the 4th quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the 3rd quarter valued at about $40,000. Finally, CENTRAL TRUST Co boosted its position in shares of CoStar Group by 1,825.5% during the 4th quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock valued at $70,000 after purchasing an additional 931 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSGP. Needham & Company LLC reduced their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective 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, February 19th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, Citigroup lowered their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

CoStar Group Stock Down 0.9 %

Shares of CSGP opened at $76.92 on Thursday. The stock has a market cap of $31.55 billion, a price-to-earnings ratio of 219.77 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, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a 50-day moving average price of $74.12 and a two-hundred day moving average price of $75.50.

CoStar Group (NASDAQ:CSGP) last announced 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. The firm had revenue of $709.40 million during 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%. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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