Skandinaviska Enskilda Banken AB publ Purchases 4,300 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Skandinaviska Enskilda Banken AB publ boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,811 shares of the technology company's stock after purchasing an additional 4,300 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in CoStar Group were worth $6,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC purchased a new position in CoStar Group during the 3rd quarter valued at about $278,000. GSA Capital Partners LLP bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $230,000. Oppenheimer & Co. Inc. increased its stake in shares of CoStar Group by 3.4% during the third quarter. Oppenheimer & Co. Inc. now owns 34,912 shares of the technology company's stock valued at $2,634,000 after buying an additional 1,150 shares during the period. Huntington National Bank raised its holdings in shares of CoStar Group by 9.4% during the third quarter. Huntington National Bank now owns 3,862 shares of the technology company's stock valued at $291,000 after acquiring an additional 332 shares in the last quarter. Finally, KBC Group NV lifted its stake in CoStar Group by 14.7% in the third quarter. KBC Group NV now owns 83,823 shares of the technology company's stock worth $6,324,000 after acquiring an additional 10,730 shares during the period. Institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSGP. William Blair began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating on the stock. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating for the company. Stephens reaffirmed an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler started coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $88.07.

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Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated 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 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.57% of the company's stock.

CoStar Group Stock Performance

CSGP traded up $1.04 during midday trading on Wednesday, hitting $79.40. 2,856,841 shares of the company traded hands, compared to its average volume of 2,537,280. The company's 50-day moving average is $75.66 and its 200 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. The firm has a market capitalization of $32.56 billion, a PE ratio of 226.86 and a beta of 0.93. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.91.

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. The business 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, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

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.