6,497,188 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Purchased by Polen Capital Management LLC

Polen Capital Management LLC 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 6,497,188 shares of the technology company’s stock, valued at approximately $465,134,000. CoStar Group comprises about 1.3% of Polen Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. Polen Capital Management LLC owned approximately 1.58% of CoStar Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CSGP. Apollon Wealth Management LLC bought a new stake in shares of CoStar Group in the third quarter worth about $278,000. GSA Capital Partners LLP bought a new stake in shares of CoStar Group in the third quarter worth about $230,000. Oppenheimer & Co. Inc. lifted its holdings in CoStar Group by 3.4% in the third quarter. Oppenheimer & Co. Inc. now owns 34,912 shares of the technology company’s stock worth $2,634,000 after buying an additional 1,150 shares during the period. Huntington National Bank lifted its holdings in CoStar Group by 9.4% in the third quarter. Huntington National Bank now owns 3,862 shares of the technology company’s stock worth $291,000 after buying an additional 332 shares during the period. Finally, KBC Group NV lifted its holdings in CoStar Group by 14.7% in the third quarter. KBC Group NV now owns 83,823 shares of the technology company’s stock worth $6,324,000 after buying an additional 10,730 shares during the period. 96.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $78.73 on Monday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market cap of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93. The company has a 50 day moving average of $75.32 and a 200 day moving average of $75.66. 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 (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $703.00 million. As a group, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

CSGP has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. William Blair initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating for the company. Wells Fargo & Company lowered their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

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.