Sandhill Capital Partners LLC Has $13.63 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Sandhill Capital Partners LLC trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,371 shares of the technology company’s stock after selling 48,510 shares during the quarter. CoStar Group accounts for 1.1% of Sandhill Capital Partners LLC’s holdings, making the stock its 24th biggest holding. Sandhill Capital Partners LLC’s holdings in CoStar Group were worth $13,629,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group in the fourth quarter valued at about $25,000. ORG Partners LLC boosted its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after buying an additional 402 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $75.75 on Tuesday. The stock’s 50-day moving average is $77.28 and its 200-day moving average is $75.76. The stock has a market cap of $31.07 billion, a P/E ratio of 216.43 and a beta of 0.88. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $95.71. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. 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 of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSGP shares. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Craig Hallum initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.