Cibc World Markets Corp Has $13.82 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Cibc World Markets Corp boosted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,012 shares of the technology company's stock after acquiring an additional 20,139 shares during the period. Cibc World Markets Corp's holdings in CoStar Group were worth $13,818,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Polen Capital Management LLC acquired a new stake in CoStar Group during the 4th quarter worth $465,134,000. SlateStone Wealth LLC grew its stake in shares of CoStar Group by 6.8% during the fourth quarter. SlateStone Wealth LLC now owns 29,417 shares of the technology company's stock worth $2,106,000 after purchasing an additional 1,871 shares during the period. Nicholas Company Inc. increased its holdings in CoStar Group by 42.4% in the fourth quarter. Nicholas Company Inc. now owns 214,414 shares of the technology company's stock valued at $15,350,000 after purchasing an additional 63,814 shares during the last quarter. American Assets Capital Advisers LLC lifted its stake in CoStar Group by 39.5% in the fourth quarter. American Assets Capital Advisers LLC now owns 9,534 shares of the technology company's stock valued at $683,000 after buying an additional 2,700 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of CoStar Group by 8.8% during the 4th quarter. Natixis Advisors LLC now owns 539,013 shares of the technology company's stock worth $38,588,000 after buying an additional 43,443 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

CSGP has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Wells Fargo & Company decreased their price objective on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Craig Hallum started coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating on the stock. Finally, Citigroup decreased their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business'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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

CSGP traded down $0.56 on Friday, reaching $78.46. The company had a trading volume of 4,383,489 shares, compared to its average volume of 3,335,385. The stock has a market cap of $32.18 billion, a P/E ratio of 224.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.73. The company's fifty day moving average is $75.97 and its 200 day moving average is $75.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million for 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 predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has authorized a share 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 often an indication that the company's board believes its stock is undervalued.

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.