CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,012 shares of the technology company’s stock after acquiring an additional 20,139 shares during the period. Cibc World Markets Corp’s holdings in CoStar Group were worth $13,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSGP. JPMorgan Chase & Co. boosted its position in CoStar Group by 73.8% during the 3rd 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. Telemark Asset Management LLC grew its position in shares of CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 worth $7,812,000 after acquiring an additional 14,468 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in CoStar Group in the 3rd quarter valued at about $621,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in CoStar Group by 497.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock valued at $511,000 after purchasing an additional 5,940 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 have recently weighed in on CSGP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company decreased 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. Two research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $80.15 on Tuesday. The company has a market capitalization of $32.87 billion, a PE ratio of 229.00 and a beta of 0.93. 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 stock has a fifty day moving average of $75.50 and a 200-day moving average of $75.68. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.57% of the company’s stock.

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.