CoStar Group, Inc. (NASDAQ:CSGP) Stock Holdings Decreased by Swiss National Bank

Swiss National Bank lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,157,700 shares of the technology company's stock after selling 54,700 shares during the period. Swiss National Bank owned about 0.28% of CoStar Group worth $82,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSGP. JPMorgan Chase & Co. raised its holdings in CoStar Group by 73.8% in the third 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 in the last quarter. Telemark Asset Management LLC increased its position in shares of CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock worth $37,720,000 after purchasing an additional 150,000 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company's stock valued at $7,812,000 after purchasing an additional 14,468 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of CoStar Group during the third quarter worth about $621,000. Finally, Steward Partners Investment Advisory LLC grew its stake in CoStar Group by 497.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after purchasing an additional 5,940 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

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Insider Activity at CoStar Group

In other CoStar Group 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 value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.57% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CSGP shares. William Blair started coverage on CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Needham & Company LLC dropped their price objective on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. 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 report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $88.07.

CoStar Group Price Performance

Shares of CSGP stock traded up $1.04 during mid-day trading on Wednesday, hitting $79.40. 2,856,841 shares of the stock traded hands, compared to its average volume of 2,537,280. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.91. 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 company's 50-day simple moving average is $75.66 and its 200-day simple moving average is $75.69. The firm has a market cap of $32.56 billion, a price-to-earnings ratio of 226.86 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are 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.