Legal & General Group Plc Has $165.26 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Legal & General Group Plc reduced its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308,353 shares of the technology company's stock after selling 605,945 shares during the period. Legal & General Group Plc owned about 0.56% of CoStar Group worth $165,255,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new position in CoStar Group during the 4th quarter worth approximately $25,000. ORG Partners LLC grew its holdings 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 buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in CoStar Group during the fourth quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the 4th quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Up 1.1 %

CoStar Group stock traded up $0.90 during mid-day trading on Tuesday, reaching $80.43. The company's stock had a trading volume of 728,415 shares, compared to its average volume of 2,729,859. The business's 50 day simple moving average is $77.27 and its 200 day simple moving average is $75.80. 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 12 month low of $68.26 and a 12 month high of $93.94. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 229.80 and a beta of 0.88.

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CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million during 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%. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CSGP shares. William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Wells Fargo & Company reduced their target price on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $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 accessible through this link. Insiders own 1.57% of the company's stock.

CoStar Group Company 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.