CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,987 shares of the technology company’s stock after acquiring an additional 12,292 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in CoStar Group were worth $7,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moran Wealth Management LLC grew its holdings in shares of CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares during the period. Allworth Financial LP boosted its stake in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. The Goldman Sachs Group initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. Needham & Company LLC reduced their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup dropped their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $79.39 on Monday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. 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 business’s fifty day moving average price is $74.73 and its two-hundred day moving average price is $75.63. The firm has a market capitalization of $32.56 billion, a PE ratio of 226.83 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate 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. On average, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has initiated a stock buyback program 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 programs are typically an indication that the company’s board believes its stock is 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.