Nicholas Company Inc. Has $15.35 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Nicholas Company Inc. raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 42.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 214,414 shares of the technology company's stock after acquiring an additional 63,814 shares during the period. Nicholas Company Inc. owned approximately 0.05% of CoStar Group worth $15,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSGP. Barclays PLC lifted its stake in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 1,001,177 shares during the last quarter. State Street Corp boosted its stake 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 acquiring an additional 722,153 shares during the last quarter. Amundi grew its holdings in CoStar Group by 30.1% during the fourth 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 period. Finally, Point72 Asset Management L.P. bought a new stake in CoStar Group in the third quarter valued at approximately $48,768,000. 96.60% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's 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 in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is owned by insiders.

CoStar Group Stock Performance

CoStar Group stock traded down $0.38 during midday trading on Thursday, reaching $79.02. 2,167,934 shares of the company's stock were exchanged, compared to its average volume of 2,532,880. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.91. The stock's 50-day simple moving average is $75.82 and its 200 day simple moving average is $75.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The firm has a market cap of $32.41 billion, a price-to-earnings ratio of 225.77 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. The Goldman Sachs Group initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. William Blair started coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating on the stock. Finally, Wells Fargo & Company lowered their target price on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $88.07.

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.