Ownership Capital B.V. Cuts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Ownership Capital B.V. reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 12.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,577,106 shares of the technology company’s stock after selling 378,598 shares during the quarter. CoStar Group comprises 5.0% of Ownership Capital B.V.’s investment portfolio, making the stock its 10th largest position. Ownership Capital B.V. owned approximately 0.63% of CoStar Group worth $225,213,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $37,000. CVA Family Office LLC bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $60,000. KB Financial Partners LLC raised its stake in CoStar Group by 17.9% during the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after buying an additional 124 shares during the last quarter. Finally, Lindbrook Capital LLC raised its stake in CoStar Group by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock valued at $107,000 after buying an additional 540 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSGP. Jefferies Financial Group lifted their price objective on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. BTIG Research began coverage on CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating for the company. Citigroup lifted their price objective on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their price objective on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Stock Performance

CoStar Group stock traded up $2.31 during mid-day trading on Friday, reaching $92.65. 2,234,096 shares of the stock traded hands, compared to its average volume of 2,004,094. The stock has a market capitalization of $37.83 billion, a PE ratio of 126.92, a price-to-earnings-growth ratio of 10.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 12.01. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The business’s 50-day moving average is $89.77 and its 200-day moving average is $84.76.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.43 EPS for the current fiscal year.

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.