Fjarde AP Fonden Fourth Swedish National Pension Fund Has $5.85 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,770 shares of the technology company’s stock after buying an additional 12,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CoStar Group were worth $5,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. ORG Partners LLC lifted its stake 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the fourth quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group during the third quarter worth approximately $40,000. Finally, Centricity Wealth Management LLC purchased a new position in CoStar Group during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 0.9 %

Shares of CoStar Group stock opened at $77.49 on Tuesday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. 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 stock has a 50 day moving average price of $73.91 and a two-hundred day moving average price of $75.47. The stock has a market capitalization of $31.77 billion, a P/E ratio of 221.40 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate 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%. Equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Wednesday, February 19th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

About CoStar Group

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.