CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by 2Xideas AG

2Xideas AG raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,570 shares of the technology company's stock after buying an additional 64,913 shares during the period. CoStar Group comprises about 2.4% of 2Xideas AG's holdings, making the stock its 11th largest holding. 2Xideas AG owned about 0.06% of CoStar Group worth $17,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of CoStar Group by 497.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after acquiring an additional 5,940 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of CoStar Group in the third quarter valued at $621,000. National Bank of Canada FI boosted its holdings in CoStar Group by 79.7% in the third quarter. National Bank of Canada FI now owns 293,148 shares of the technology company's stock valued at $22,115,000 after purchasing an additional 130,045 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in CoStar Group by 6.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 135,039 shares of the technology company's stock worth $10,187,000 after purchasing an additional 8,326 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective for the company. Stephens reiterated an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.07.

CoStar Group Stock Performance

CSGP traded up $1.62 during trading on Friday, hitting $77.04. 678,465 shares of the stock were exchanged, compared to its average volume of 2,725,170. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $93.94. The stock has a fifty day moving average price of $77.23 and a two-hundred day moving average price of $75.73. The firm has a market capitalization of $31.59 billion, a P/E ratio of 218.27 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by company insiders.

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.