Amundi Increases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Amundi boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 30.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,810,540 shares of the technology company’s stock after buying an additional 650,454 shares during the quarter. Amundi’s holdings in CoStar Group were worth $200,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the period. JPMorgan Chase & Co. grew its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the period. State Street Corp increased its position in shares of CoStar Group by 4.4% in 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. Point72 Asset Management L.P. purchased a new stake in shares of CoStar Group in the third quarter valued at approximately $48,768,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $45,993,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating on the stock. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Two equities 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’s stock. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Trading Up 3.3 %

Shares of CSGP stock opened at $79.39 on Monday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The stock has a market cap of $32.56 billion, a price-to-earnings ratio of 226.83 and a beta of 0.93. The company’s 50-day moving average price is $74.73 and its 200-day moving average price is $75.63. The company has a current ratio of 8.96, a quick ratio of 9.63 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 earnings per share for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. As a group, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

About CoStar Group

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.