CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,012 shares of the technology company’s stock after acquiring an additional 20,139 shares during the period. Cibc World Markets Corp’s holdings in CoStar Group were worth $13,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Polen Capital Management LLC acquired a new stake in shares of CoStar Group during the 4th quarter worth about $465,134,000. Barclays PLC boosted its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after acquiring an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. grew 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 acquiring an additional 1,001,177 shares during the period. State Street Corp raised its holdings in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares during the last quarter. Finally, Amundi lifted its stake in shares of CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after purchasing an additional 650,454 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of several analyst reports. Craig Hallum assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating for the company. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $80.15 on Tuesday. The business’s 50-day simple moving average is $75.50 and its 200 day simple moving average is $75.68. The company has a market cap of $32.87 billion, a P/E ratio of 229.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting 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 analyst estimates of $703.00 million. On average, sell-side analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction 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 in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.57% of the company’s stock.

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.