CANADA LIFE ASSURANCE Co Raises Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

CANADA LIFE ASSURANCE Co grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 388,780 shares of the technology company's stock after acquiring an additional 20,738 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of CoStar Group worth $27,797,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CSGP. Allworth Financial LP boosted its stake in CoStar Group by 9.7% during the fourth 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 period. Atria Wealth Solutions Inc. raised its holdings in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock valued at $557,000 after acquiring an additional 176 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock valued at $588,000 after acquiring an additional 180 shares during the last quarter. FWG Holdings LLC grew its holdings in shares of CoStar Group by 3.5% during the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock worth $494,000 after purchasing an additional 219 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of CoStar Group by 5.2% in the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock worth $317,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Trading Up 1.3 %

CSGP stock traded up $1.01 on Wednesday, reaching $81.88. The company's stock had a trading volume of 3,089,063 shares, compared to its average volume of 2,751,270. 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 business has a fifty day simple moving average of $77.72 and a two-hundred day simple moving average of $76.00. The firm has a market cap of $33.58 billion, a PE ratio of 233.95 and a beta of 0.88. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share 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 firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup decreased their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Piper Sandler assumed coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating and a $89.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average price target of $87.54.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company'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 sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by corporate insiders.

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.