Capital International Investors Purchases 4,345,267 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Capital International Investors grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 44.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,032,363 shares of the technology company's stock after purchasing an additional 4,345,267 shares during the period. Capital International Investors owned approximately 3.42% of CoStar Group worth $1,004,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the fourth quarter worth approximately $25,000. ORG Partners LLC increased its stake in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after buying an additional 402 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CSGP shares. Craig Hallum assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Piper Sandler assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating on the stock. Needham & Company LLC decreased their price target 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. Stephens reaffirmed an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.54.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.57% of the stock is owned by corporate insiders.

CoStar Group Trading Up 1.2 %

CoStar Group stock traded up $1.02 during mid-day trading on Thursday, hitting $82.85. 882,260 shares of the company's stock were exchanged, compared to its average volume of 2,742,986. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The company's 50 day simple moving average is $77.87 and its 200-day simple moving average is $76.04. The firm has a market capitalization of $33.98 billion, a P/E ratio of 236.43 and a beta of 0.88. 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 (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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