FIL Ltd Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

FIL Ltd lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 79.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,425 shares of the technology company's stock after acquiring an additional 87,249 shares during the period. FIL Ltd's holdings in CoStar Group were worth $14,134,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSGP. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the 4th quarter valued at $25,000. ORG Partners LLC grew its stake in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in CoStar Group during the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the fourth quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of 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 worth $36,000 after purchasing an additional 402 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on CSGP shares. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Needham & Company LLC cut their target price on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Finally, William Blair initiated coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and an average price target of $87.54.

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Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This 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 at this link. Insiders own 1.57% of the company's stock.

CoStar Group Trading Down 1.9 %

CSGP stock traded down $1.49 during mid-day trading on Wednesday, reaching $79.02. The company's stock had a trading volume of 2,711,983 shares, compared to its average volume of 2,737,667. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 225.77 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. The business's 50 day moving average price is $77.32 and its 200 day moving average price is $75.83. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is 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.