APG Asset Management N.V. Invests $15.04 Million in CoStar Group, Inc. (NASDAQ:CSGP)

APG Asset Management N.V. acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 217,500 shares of the technology company's stock, valued at approximately $15,037,000. APG Asset Management N.V. owned about 0.05% of CoStar Group at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after acquiring an additional 176 shares during the period. Moran Wealth Management LLC lifted its holdings in CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after buying an additional 180 shares during the last quarter. FWG Holdings LLC boosted its position in shares of CoStar Group by 3.5% in the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock valued at $494,000 after purchasing an additional 219 shares during the period. Finally, V Square Quantitative Management LLC grew its position in CoStar Group by 5.2% in 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 own 96.60% of the company's stock.

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CoStar Group Stock Down 0.6 %

CSGP traded down $0.52 during trading on Wednesday, reaching $79.99. 445,722 shares of the stock traded hands, compared to its average volume of 2,728,994. The stock has a market cap of $32.81 billion, a price-to-earnings ratio of 228.54 and a beta of 0.88. 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 stock's 50-day simple moving average is $77.32 and its two-hundred day simple moving average is $75.83. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSGP has been the topic of several research reports. Piper Sandler assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Royal Bank of Canada reissued 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 cut their price objective on CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $87.54.

CoStar Group Company 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.