Envestnet Portfolio Solutions Inc. Sells 5,927 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Envestnet Portfolio Solutions Inc. reduced its position in CoStar Group, Inc. (NASDAQ:CSGP) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,119 shares of the technology company’s stock after selling 5,927 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CoStar Group were worth $3,158,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CSGP. Natixis Advisors LLC lifted its stake in shares of CoStar Group by 8.8% in the fourth quarter. Natixis Advisors LLC now owns 539,013 shares of the technology company’s stock valued at $38,588,000 after buying an additional 43,443 shares in the last quarter. Hills Bank & Trust Co boosted its stake in CoStar Group by 8.3% during the 4th quarter. Hills Bank & Trust Co now owns 9,374 shares of the technology company’s stock valued at $671,000 after purchasing an additional 717 shares during the last quarter. Postrock Partners LLC bought a new stake in CoStar Group during the 4th quarter worth approximately $819,000. LBP AM SA increased its holdings in CoStar Group by 994.7% during the 4th quarter. LBP AM SA now owns 159,426 shares of the technology company’s stock worth $11,413,000 after purchasing an additional 144,863 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of CoStar Group by 5.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 84,811 shares of the technology company’s stock worth $6,092,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the topic of several analyst reports. William Blair initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Wells Fargo & Company decreased their price target on 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 CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Citigroup decreased their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $79.40 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.91. The stock has a market cap of $32.56 billion, a PE ratio of 226.86 and a beta of 0.93. The stock has a fifty day moving average of $75.82 and a 200-day moving average of $75.71.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share 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 business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Equities research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has authorized a share buyback program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.