Daiwa Securities Group Inc. Boosts Position in CoStar Group, Inc. (NASDAQ:CSGP)

Daiwa Securities Group Inc. raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,023 shares of the technology company's stock after purchasing an additional 5,444 shares during the period. Daiwa Securities Group Inc.'s holdings in CoStar Group were worth $6,087,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after buying an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 722,153 shares in the last quarter. Amundi boosted its stake 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, Point72 Asset Management L.P. purchased a new stake in shares of CoStar Group during the third quarter worth about $48,768,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Down 0.0 %

Shares of NASDAQ:CSGP opened at $76.86 on Thursday. The company's fifty day moving average is $75.10 and its two-hundred day moving average is $75.67. 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 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 219.60 and a beta of 0.93.

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CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. The firm 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%. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has approved a share buyback program 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 programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

CSGP has been the topic of several analyst reports. Stephens restated an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price objective on the stock. Needham & Company LLC decreased their target price on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup lowered their target price 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 assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

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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