CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Mattern Capital Management LLC

Mattern Capital Management LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 15.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,878 shares of the technology company’s stock after purchasing an additional 1,188 shares during the quarter. Mattern Capital Management LLC’s holdings in CoStar Group were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its position in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC lifted its position in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. lifted its position in CoStar Group by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after purchasing an additional 76,916 shares during the period. JPMorgan Chase & Co. lifted its position in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the period. Finally, Barclays PLC lifted its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CSGP. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Wednesday. Needham & Company LLC decreased their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday. Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday. BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 1.1 %

CSGP stock opened at $78.35 on Friday. The stock has a market capitalization of $32.12 billion, a P/E ratio of 223.84 and a beta of 0.87. The firm has a 50-day simple moving average of $73.82 and a 200-day simple moving average of $75.37. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last released 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 analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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.