Ameriprise Financial Inc. Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Ameriprise Financial Inc. increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 31.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,749,116 shares of the technology company’s stock after buying an additional 665,483 shares during the quarter. Ameriprise Financial Inc. owned about 0.67% of CoStar Group worth $196,832,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the fourth quarter valued at approximately $25,000. ORG Partners LLC raised its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the 4th quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the 4th quarter worth $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after acquiring an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CSGP shares. The Goldman Sachs Group started coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Citigroup reduced their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $88.31.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction 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 owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is owned by corporate insiders.

CoStar Group Trading Down 3.2 %

CSGP stock opened at $74.62 on Wednesday. The company has a market capitalization of $31.47 billion, a price-to-earnings ratio of 213.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $92.74. The business has a 50 day simple moving average of $78.29 and a two-hundred day simple moving average of $76.19.

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

CoStar Group declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are 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.