SVB Wealth LLC Takes $4.45 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

SVB Wealth LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,164 shares of the technology company’s stock, valued at approximately $4,450,000.

Other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its position in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp raised its holdings in shares of CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in CoStar Group during the third quarter valued at $48,768,000. Finally, Icon Wealth Advisors LLC grew its stake in CoStar Group by 8,314.1% in the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after purchasing an additional 405,062 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. William Blair initiated coverage on shares of CoStar Group in a research report on Friday. They issued a “market perform” rating for the company. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Finally, Craig Hallum started coverage on shares of CoStar Group in a report on Friday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.25 on Friday. The company has a market cap of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. The business has a 50 day moving average price of $74.30 and a 200 day moving average price of $75.54. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

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 the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.