Geode Capital Management LLC Has $819.68 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Geode Capital Management LLC increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,475,755 shares of the technology company’s stock after purchasing an additional 166,769 shares during the quarter. Geode Capital Management LLC’s holdings in CoStar Group were worth $819,678,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Polen Capital Management LLC purchased a new position in CoStar Group during the 4th quarter valued at about $465,134,000. Norges Bank acquired a new stake in shares of CoStar Group during the fourth quarter worth approximately $390,755,000. Barclays PLC grew 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 valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. 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 valued at $177,913,000 after buying an additional 1,001,177 shares during the period. Finally, State Street Corp lifted its position 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 worth $1,286,987,000 after buying an additional 722,153 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’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 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. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

NASDAQ CSGP opened at $79.92 on Thursday. The stock has a 50-day simple moving average of $77.29 and a 200 day simple moving average of $75.82. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $95.71. The stock has a market capitalization of $32.78 billion, a PE ratio of 228.34 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 (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. Research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

Analyst Ratings Changes

Several research firms have recently commented on CSGP. Needham & Company LLC lowered their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. William Blair initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

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.