ING Groep NV Invests $4.47 Million in CoStar Group, Inc. (NASDAQ:CSGP)

ING Groep NV purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 62,376 shares of the technology company’s stock, valued at approximately $4,465,000.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC lifted its position in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after acquiring an additional 513 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in CoStar Group in the 3rd quarter valued at approximately $40,000. Finally, CENTRAL TRUST Co lifted its position in CoStar Group by 1,825.5% in the 4th quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock valued at $70,000 after acquiring an additional 931 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.57% of the stock is currently owned by company insiders.

CoStar Group Trading Down 2.0 %

NASDAQ:CSGP opened at $76.79 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 firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of 219.40 and a beta of 0.87. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The business has a fifty day moving average price of $73.83 and a 200-day moving average price of $75.39.

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

CoStar Group announced that its Board of Directors has initiated a share 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 often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSGP. Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday. Wells Fargo & Company lowered their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday. Needham & Company LLC lowered their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.