Russell Investments Group Ltd. Acquires 26,623 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Russell Investments Group Ltd. raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,131 shares of the technology company's stock after buying an additional 26,623 shares during the period. Russell Investments Group Ltd. owned about 0.08% of CoStar Group worth $22,353,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group in the fourth quarter worth approximately $25,000. ORG Partners LLC grew its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after purchasing an additional 402 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target 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 initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set 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. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Finally, Keefe, Bruyette & Woods lowered 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 issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has an average rating of "Moderate Buy" and an average price target of $87.54.

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Insider Activity

In other 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 transaction, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company's stock.

CoStar Group Stock Up 2.2 %

Shares of NASDAQ:CSGP traded up $1.70 during trading on Monday, reaching $79.09. 395,674 shares of the stock traded hands, compared to its average volume of 2,730,249. The stock has a market cap of $32.44 billion, a P/E ratio of 225.97 and a beta of 0.88. 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 stock has a 50-day moving average of $77.23 and a two-hundred day moving average of $75.77. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. As a group, sell-side 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 initiated a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.