Meiji Yasuda Asset Management Co Ltd. Sells 304 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 4.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,148 shares of the technology company’s stock after selling 304 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in CoStar Group were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CSGP. State Street Corp boosted 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 buying an additional 722,153 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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. Polen Capital Management LLC bought a new position in shares of CoStar Group in the fourth quarter worth approximately $465,134,000. Charles Schwab Investment Management Inc. increased its stake in shares of CoStar Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after buying an additional 133,876 shares during the period. Finally, Amundi raised its holdings in CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after buying an additional 650,454 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

Shares of CSGP opened at $80.13 on Friday. The firm’s 50-day simple moving average is $76.85 and its two-hundred day simple moving average is $75.83. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.64. The stock has a market cap of $32.86 billion, a PE ratio of 228.94 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.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $703.00 million. Analysts anticipate 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 stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSGP. Wells Fargo & Company cut their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. 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 note on Tuesday, January 28th. Needham & Company LLC lowered their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, Citigroup reduced their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two equities 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.