KLP Kapitalforvaltning AS Invests $10.15 Million in CoStar Group, Inc. (NASDAQ:CSGP)

KLP Kapitalforvaltning AS bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 141,800 shares of the technology company's stock, valued at approximately $10,151,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in CoStar Group in the 4th quarter valued at approximately $25,000. ORG Partners LLC boosted its position 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 worth $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the 4th quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock worth $37,000 after acquiring an additional 513 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSGP has been the topic of several research reports. Needham & Company LLC reduced their price target on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Stephens reissued an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Craig Hallum started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating for the company. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.07.

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CoStar Group Stock Performance

NASDAQ CSGP traded down $0.82 during trading hours on Friday, hitting $79.31. The company had a trading volume of 2,545,029 shares, compared to its average volume of 2,639,799. The business has a 50 day moving average of $76.96 and a 200-day moving average of $75.83. 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 $96.98. The company has a market cap of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93.

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, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million for 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%. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock buyback program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company's stock.

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.