Lbp Am Sa Purchases 144,863 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

LBP AM SA lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 994.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 159,426 shares of the technology company's stock after acquiring an additional 144,863 shares during the quarter. LBP AM SA's holdings in CoStar Group were worth $11,413,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after buying an additional 722,153 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company's stock valued at $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CoStar Group by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company's stock valued at $201,758,000 after purchasing an additional 133,876 shares during the last quarter. Amundi increased its position in shares of CoStar Group by 30.1% in the 4th quarter. Amundi now owns 2,810,540 shares of the technology company's stock valued at $200,504,000 after purchasing an additional 650,454 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of 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. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $1.04 on Wednesday, reaching $79.40. 2,856,854 shares of the company's stock were exchanged, compared to its average volume of 2,537,280. The firm has a market capitalization of $32.56 billion, a price-to-earnings ratio of 226.86 and a beta of 0.93. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.91. The business's 50-day moving average is $75.66 and its two-hundred day moving average is $75.69. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

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

CoStar Group announced that its board has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CSGP shares. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Craig Hallum began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Piper Sandler began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. Finally, The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.07.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's 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 in the company, 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 filing with the SEC, which is available through this link. 1.57% of the stock is owned by corporate 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.