Mitsubishi UFJ Trust & Banking Corp Has $38.70 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 540,599 shares of the technology company’s stock after selling 46,145 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.13% of CoStar Group worth $38,701,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSGP. State Street Corp raised its position in shares of CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Geode Capital Management LLC raised its holdings in CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after acquiring an additional 236,407 shares in the last quarter. Polen Capital Management LLC bought a new stake in shares of CoStar Group in the 4th quarter worth approximately $465,134,000. Charles Schwab Investment Management Inc. grew its holdings in shares of CoStar Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after purchasing an additional 133,876 shares in the last quarter. Finally, Amundi increased its position in shares of CoStar Group by 30.1% during the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after purchasing an additional 650,454 shares during the period. 96.60% of the stock is owned by institutional investors.

Insider Activity at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CSGP shares. Needham & Company LLC decreased their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Finally, Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They issued 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Trading Up 0.2 %

NASDAQ CSGP opened at $80.37 on Thursday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.64. 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 cap of $32.96 billion, a P/E ratio of 229.63 and a beta of 0.93. The stock’s 50-day moving average is $76.72 and its 200-day moving average is $75.80.

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

CoStar Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.