Lbp Am Sa Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Lbp Am Sa boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 994.7% in the fourth quarter, Holdings Channel reports. The fund owned 159,426 shares of the technology company’s stock after buying an additional 144,863 shares during the quarter. Lbp Am Sa’s holdings in CoStar Group were worth $11,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in CoStar Group in the 4th quarter worth approximately $25,000. ORG Partners LLC boosted 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 period. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after acquiring an additional 513 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group 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 value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is owned by corporate insiders.

CoStar Group Stock Performance

CSGP stock opened at $78.73 on Friday. 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 firm has a market cap of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock’s 50 day simple moving average is $75.32 and its 200 day simple moving average is $75.68.

CoStar Group (NASDAQ:CSGP) last issued 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. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes 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 of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.07.

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.