Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 410.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,007 shares of the technology company's stock after purchasing an additional 32,165 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in CoStar Group were worth $2,864,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CSGP. State Street Corp increased its stake in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock valued at $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Geode Capital Management LLC boosted its position in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company's stock valued at $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in CoStar Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company's stock valued at $201,758,000 after purchasing an additional 133,876 shares in the last quarter. Amundi increased its position in shares of CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company's stock worth $200,504,000 after purchasing an additional 650,454 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 1,001,177 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.
CoStar Group Price Performance
Shares of CoStar Group stock traded down $0.56 on Friday, reaching $78.46. 4,383,474 shares of the stock were exchanged, compared to its average volume of 2,541,167. 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 firm has a market cap of $32.18 billion, a PE ratio of 224.17 and a beta of 0.93. The firm's 50 day moving average is $75.97 and its 200-day moving average is $75.74. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.91.
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 for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. As a group, analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.
CoStar Group declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.
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 shares were 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 $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.57% of the company's stock.
Analyst Upgrades and Downgrades
CSGP has been the topic of a number of recent analyst reports. Stephens restated an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. William Blair initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "market perform" rating on the stock. Needham & Company LLC reduced their price target on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 19th. Finally, Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.07.
Read Our Latest Report on CSGP
CoStar Group Company Profile
(
Free Report)
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.
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