BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

BI Asset Management Fondsmaeglerselskab A S raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,871 shares of the technology company’s stock after acquiring an additional 1,132 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in CoStar Group were worth $1,351,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after acquiring an additional 176 shares during the period. Moran Wealth Management LLC raised its stake in shares of CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after acquiring an additional 180 shares during the period. FWG Holdings LLC boosted its position in shares of CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after purchasing an additional 219 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in CoStar Group by 5.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.54.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $80.87 on Wednesday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $93.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm has a market capitalization of $33.17 billion, a PE ratio of 231.06 and a beta of 0.88. The business’s fifty day moving average price is $77.72 and its 200 day moving average price is $76.00.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has initiated a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership 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 on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now 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 legal filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by corporate insiders.

CoStar Group 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.