T. Rowe Price Investment Management Inc. Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

T. Rowe Price Investment Management Inc. raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,415,895 shares of the technology company's stock after purchasing an additional 1,267,263 shares during the period. T. Rowe Price Investment Management Inc. owned 1.57% of CoStar Group worth $459,314,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CSGP. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group during the 4th quarter worth about $25,000. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the fourth quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted 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 acquiring an additional 402 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm'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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CSGP shares. StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut 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. Craig Hallum assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company dropped 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. Two equities 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 company. According to data from MarketBeat.com, CoStar Group has an average rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Stock Performance

NASDAQ CSGP opened at $80.87 on Wednesday. The stock has a fifty day simple moving average of $77.72 and a 200-day simple moving average of $76.00. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $33.17 billion, a PE ratio of 231.06 and a beta of 0.88. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company 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%. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

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