KLP Kapitalforvaltning AS Purchases Shares of 141,800 CoStar Group, Inc. (NASDAQ:CSGP)

KLP Kapitalforvaltning AS bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 141,800 shares of the technology company’s stock, valued at approximately $10,151,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Polen Capital Management LLC purchased a new stake in shares of CoStar Group during the 4th quarter valued at $465,134,000. Barclays PLC lifted its stake in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased 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 worth $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. State Street Corp lifted 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 in the last quarter. Finally, Amundi grew its stake in CoStar Group by 30.1% during the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after buying an additional 650,454 shares during the period. Institutional investors and hedge funds 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 stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. JPMorgan Chase & Co. lowered their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Citigroup lowered their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. Finally, Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Two 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 company’s stock. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Up 2.1 %

NASDAQ CSGP opened at $80.14 on Tuesday. The company has a market capitalization of $32.87 billion, a price-to-earnings ratio of 228.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.64. The company’s fifty day moving average price is $76.36 and its two-hundred day moving average price is $75.75.

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

CoStar Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

CoStar Group 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.