CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,034,152 shares of the technology company’s stock after buying an additional 90,675 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CoStar Group were worth $74,035,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CSGP. State Street Corp increased its position in shares of CoStar Group by 4.4% during 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 acquiring an additional 722,153 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the period. Polen Capital Management LLC acquired a new stake in CoStar Group in the 4th quarter valued at approximately $465,134,000. Norges Bank purchased a new stake in CoStar Group in the fourth quarter valued at approximately $390,755,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in CoStar Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after purchasing an additional 133,876 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Down 1.0 %

CoStar Group stock opened at $79.31 on Friday. The stock has a market cap of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93. 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 stock’s fifty day moving average is $76.96 and its two-hundred day moving average is $75.81. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $96.98.

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

CoStar Group declared that its board has approved a stock repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. Needham & Company LLC reduced their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. William Blair began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.