Lbp Am Sa Raises Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Lbp Am Sa grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 994.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,426 shares of the technology company’s stock after purchasing an additional 144,863 shares during the period. Lbp Am Sa’s holdings in CoStar Group were worth $11,413,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC raised its stake in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after buying an additional 150,000 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after buying an additional 14,468 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth $621,000. Finally, BNP Paribas Financial Markets raised its stake in shares of CoStar Group by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,260,157 shares of the technology company’s stock worth $95,066,000 after buying an additional 317,017 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Up 4.4 %

CSGP opened at $78.73 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93. The business has a 50-day moving average of $75.32 and a two-hundred day moving average of $75.68. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. On average, research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of several research reports. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating for the company. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Citigroup cut their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Company 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.