Mizuho Securities USA LLC Purchases 12,281 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Mizuho Securities USA LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 46.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,855 shares of the technology company's stock after purchasing an additional 12,281 shares during the period. Mizuho Securities USA LLC's holdings in CoStar Group were worth $2,782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CSGP. iA Global Asset Management Inc. lifted its holdings in CoStar Group by 5.8% in the 4th quarter. iA Global Asset Management Inc. now owns 44,187 shares of the technology company's stock worth $3,163,000 after buying an additional 2,411 shares during the period. Teacher Retirement System of Texas raised its holdings in CoStar Group by 40.2% in the 4th quarter. Teacher Retirement System of Texas now owns 3,836 shares of the technology company's stock worth $275,000 after purchasing an additional 1,100 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of CoStar Group by 2.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 402,286 shares of the technology company's stock worth $28,800,000 after purchasing an additional 9,899 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of CoStar Group by 27.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 24,127 shares of the technology company's stock valued at $1,726,000 after purchasing an additional 5,249 shares in the last quarter. Finally, Platinum Investment Management Ltd. increased its position in shares of CoStar Group by 40.0% during the fourth quarter. Platinum Investment Management Ltd. now owns 70,000 shares of the technology company's stock valued at $5,011,000 after buying an additional 20,000 shares during the period. Institutional investors own 96.60% of the company's stock.

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CoStar Group Trading Down 1.0 %

NASDAQ:CSGP traded down $0.82 during midday trading on Friday, hitting $79.31. 2,545,029 shares of the company traded hands, compared to its average volume of 2,639,799. The firm has a market capitalization of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. The firm's fifty day moving average is $76.85 and its 200-day moving average is $75.83. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $96.98. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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 (EPS) for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has approved a stock buyback 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 often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on CSGP shares. Wells Fargo & Company lowered their price objective on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. Citigroup cut their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Needham & Company LLC lowered their target price on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.