2Xideas AG Boosts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

2Xideas AG boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 35.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 246,570 shares of the technology company’s stock after acquiring an additional 64,913 shares during the period. CoStar Group accounts for 2.4% of 2Xideas AG’s portfolio, making the stock its 11th largest holding. 2Xideas AG’s holdings in CoStar Group were worth $17,652,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CSGP. Polen Capital Management LLC bought a new stake in CoStar Group in the 4th quarter worth approximately $465,134,000. Norges Bank purchased a new stake in CoStar Group in the 4th quarter worth about $390,755,000. Barclays PLC boosted its position in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. increased its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the period. Finally, State Street Corp increased its holdings in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several recent research reports. William Blair initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating for the company. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Piper Sandler initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating for the company. Finally, Citigroup cut their price target 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $88.07.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, 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 the SEC website. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 4.9 %

CSGP stock opened at $72.62 on Friday. The company’s 50 day moving average is $77.30 and its two-hundred day moving average is $75.79. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $95.71. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $29.78 billion, a P/E ratio of 207.49 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last announced 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 firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are 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.