Skandinaviska Enskilda Banken AB publ Has $6.09 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Skandinaviska Enskilda Banken AB publ raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,811 shares of the technology company’s stock after buying an additional 4,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in CoStar Group were worth $6,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CSGP. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its stake in shares of CoStar Group by 534.8% during the fourth 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 last quarter. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in 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 valued at $37,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSGP. Needham & Company LLC cut their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 4.4 %

CSGP stock opened at $78.73 on Friday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $75.32 and a two-hundred day moving average price of $75.66. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

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

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.