UMB Bank n.a. Acquires 76,720 Shares of CoStar Group, Inc. $CSGP

UMB Bank n.a. boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 51.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,305 shares of the technology company’s stock after acquiring an additional 76,720 shares during the quarter. UMB Bank n.a. owned about 0.05% of CoStar Group worth $19,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSGP. Vanguard Group Inc. raised its holdings in CoStar Group by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 68,847,483 shares of the technology company’s stock valued at $5,535,338,000 after buying an additional 420,772 shares during the period. Bamco Inc. NY increased its position in CoStar Group by 3.4% during the second quarter. Bamco Inc. NY now owns 19,679,935 shares of the technology company’s stock valued at $1,582,267,000 after acquiring an additional 647,413 shares during the last quarter. State Street Corp raised its stake in shares of CoStar Group by 0.9% in the second quarter. State Street Corp now owns 17,732,968 shares of the technology company’s stock valued at $1,425,731,000 after acquiring an additional 158,539 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CoStar Group by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 12,357,840 shares of the technology company’s stock worth $989,905,000 after acquiring an additional 290,404 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of CoStar Group by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,406,788 shares of the technology company’s stock worth $624,911,000 after purchasing an additional 821,111 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. Citizens Jmp reduced their price objective on shares of CoStar Group from $100.00 to $78.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 8th. BMO Capital Markets reduced their price target on CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a report on Thursday, January 8th. The Goldman Sachs Group restated a “buy” rating and set a $84.00 price objective on shares of CoStar Group in a report on Wednesday, January 14th. Raymond James Financial set a $74.00 price objective on CoStar Group in a research report on Wednesday, January 7th. Finally, Jefferies Financial Group upgraded CoStar Group to a “hold” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.39.

CoStar Group Trading Down 0.7%

CSGP opened at $61.50 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $65.75 and its two-hundred day moving average is $76.83. The company has a market capitalization of $26.06 billion, a P/E ratio of 1,230.00, a PEG ratio of 1.62 and a beta of 0.84. CoStar Group, Inc. has a 52 week low of $57.01 and a 52 week high of $97.43.

CoStar Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 7th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.