CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 287,978 shares of the technology company's stock after purchasing an additional 5,150 shares during the period. Asset Management One Co. Ltd. owned 0.07% of CoStar Group worth $20,798,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Howard Bailey Securities LLC increased its position in CoStar Group by 8.6% during the 4th quarter. Howard Bailey Securities LLC now owns 6,102 shares of the technology company's stock valued at $437,000 after purchasing an additional 482 shares during the period. Phraction Management LLC purchased a new position in CoStar Group during the 4th quarter valued at about $729,000. Allspring Global Investments Holdings LLC increased its position in CoStar Group by 6.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 482,712 shares of the technology company's stock valued at $34,190,000 after purchasing an additional 31,152 shares during the period. Summit Trail Advisors LLC increased its position in CoStar Group by 8.6% during the 4th quarter. Summit Trail Advisors LLC now owns 7,089 shares of the technology company's stock valued at $508,000 after purchasing an additional 559 shares during the period. Finally, Equitable Trust Co. increased its position in CoStar Group by 15.3% during the 4th quarter. Equitable Trust Co. now owns 102,084 shares of the technology company's stock valued at $7,308,000 after purchasing an additional 13,539 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company's stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.57% of the company's stock.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $3.75 during midday trading on Wednesday, reaching $79.21. The company's stock had a trading volume of 7,407,607 shares, compared to its average volume of 2,692,833. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $32.47 billion, a PE ratio of 180.03 and a beta of 0.87. The stock has a fifty day moving average of $73.79 and a 200 day moving average of $75.34.

CoStar Group (NASDAQ:CSGP - Get Free Report) 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 firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday. Needham & Company LLC cut their price objective on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.15.

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.