Thrivent Financial for Lutherans Sells 6,392 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Thrivent Financial for Lutherans trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,234 shares of the technology company’s stock after selling 6,392 shares during the period. Thrivent Financial for Lutherans’ holdings in CoStar Group were worth $14,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the 4th quarter valued at $25,000. ORG Partners LLC raised its stake 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 acquiring an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in CoStar Group during the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group during the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

NASDAQ CSGP opened at $78.46 on Friday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.73. The company has a fifty day moving average of $76.15 and a 200-day moving average of $75.74. The company has a market capitalization of $32.18 billion, a P/E ratio of 224.17 and a beta of 0.93. 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 (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Craig Hallum assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Needham & Company LLC decreased their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Company Profile

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.