CoStar Group, Inc. (NASDAQ:CSGP) Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,475,755 shares of the technology company’s stock after purchasing an additional 166,769 shares during the period. Geode Capital Management LLC owned 2.80% of CoStar Group worth $819,678,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. HighPoint Advisor Group LLC raised its position in shares of CoStar Group by 41.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,952 shares of the technology company’s stock valued at $452,000 after acquiring an additional 1,731 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of CoStar Group by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 2,237,117 shares of the technology company’s stock worth $160,155,000 after purchasing an additional 14,984 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of CoStar Group by 9.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 18,176 shares of the technology company’s stock worth $1,301,000 after buying an additional 1,644 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of CoStar Group by 3.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 329,091 shares of the technology company’s stock valued at $23,477,000 after buying an additional 11,038 shares during the period. Finally, RWA Wealth Partners LLC grew its position in shares of CoStar Group by 18.8% during the 4th quarter. RWA Wealth Partners LLC now owns 5,430 shares of the technology company’s stock valued at $389,000 after buying an additional 859 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was 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 trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of research reports. Piper Sandler began coverage on CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $79.92 on Thursday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $95.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a fifty day moving average price of $77.29 and a two-hundred day moving average price of $75.82. The firm has a market cap of $32.78 billion, a P/E ratio of 228.34 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analyst estimates of $703.00 million. Research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About CoStar Group

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.