First Bank & Trust Sells 2,379 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

First Bank & Trust trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 10.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,844 shares of the technology company’s stock after selling 2,379 shares during the quarter. First Bank & Trust’s holdings in CoStar Group were worth $1,492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSGP. Barclays PLC boosted its position 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 buying an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $177,913,000 after buying an additional 1,001,177 shares during the last quarter. State Street Corp boosted its position in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of CoStar Group in the 3rd quarter worth $48,768,000. Finally, Icon Wealth Advisors LLC boosted its position in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock worth $30,925,000 after purchasing an additional 405,062 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Performance

CSGP stock opened at $79.21 on Thursday. The business’s 50-day moving average price is $73.79 and its two-hundred day moving average price is $75.34. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market cap of $32.47 billion, a PE ratio of 226.31 and a beta of 0.87. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.13% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. BMO Capital Markets reduced their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Citigroup reduced their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Needham & Company LLC reduced their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.57% of the company’s stock.

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.