CoStar Group, Inc. (NASDAQ:CSGP) Holdings Boosted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2,181.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,129,307 shares of the technology company's stock after purchasing an additional 1,079,815 shares during the period. Canada Pension Plan Investment Board owned approximately 0.28% of CoStar Group worth $80,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hopwood Financial Services Inc. purchased a new stake in CoStar Group in the 4th quarter worth about $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group in the fourth quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position 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 purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Up 0.9 %

CoStar Group stock opened at $79.70 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The firm has a fifty day moving average price of $77.41 and a two-hundred day moving average price of $75.88. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 227.71 and a beta of 0.88.

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 the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSGP shares. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. William Blair initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. reduced their price target on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Finally, Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.54.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is currently owned by insiders.

CoStar Group 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.

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