CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,952 shares of the technology company’s stock after acquiring an additional 1,731 shares during the period. HighPoint Advisor Group LLC’s holdings in CoStar Group were worth $452,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSGP. State Street Corp raised its holdings in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after buying an additional 236,407 shares during the last quarter. Polen Capital Management LLC purchased a new stake in shares of CoStar Group in the 4th quarter worth about $465,134,000. Norges Bank acquired a new stake in CoStar Group in the 4th quarter valued at about $390,755,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $201,758,000 after acquiring an additional 133,876 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSGP. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. Citigroup dropped their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Performance

Shares of CSGP stock opened at $79.92 on Thursday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $95.71. The company has a market cap of $32.78 billion, a PE ratio of 228.34 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $77.29 and its 200-day simple moving average is $75.82.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The business 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 anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

Insider Transactions 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 sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

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.