CoStar Group, Inc. $CSGP Shares Purchased by National Pension Service

National Pension Service lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 553,599 shares of the technology company’s stock after acquiring an additional 11,998 shares during the quarter. National Pension Service’s holdings in CoStar Group were worth $46,707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in CoStar Group by 14.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,380 shares of the technology company’s stock valued at $14,459,000 after purchasing an additional 21,225 shares in the last quarter. Swedbank AB boosted its holdings in CoStar Group by 21.0% in the third quarter. Swedbank AB now owns 302,360 shares of the technology company’s stock worth $25,510,000 after purchasing an additional 52,433 shares in the last quarter. Generali Asset Management SPA SGR boosted its position in CoStar Group by 641.8% during the third quarter. Generali Asset Management SPA SGR now owns 23,880 shares of the technology company’s stock worth $2,015,000 after purchasing an additional 20,661 shares during the period. Third Point LLC boosted its holdings in CoStar Group by 56.2% during the second quarter. Third Point LLC now owns 3,085,000 shares of the technology company’s stock valued at $248,034,000 after acquiring an additional 1,110,000 shares during the period. Finally, Shaker Investments LLC OH bought a new stake in CoStar Group during the 3rd quarter valued at approximately $1,821,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Down 0.5%

NASDAQ:CSGP opened at $61.18 on Tuesday. The firm has a market capitalization of $25.93 billion, a price-to-earnings ratio of 1,223.60, a PEG ratio of 1.61 and a beta of 0.84. The business’s 50-day moving average price is $65.63 and its two-hundred day moving average price is $76.60. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 1-year low of $57.01 and a 1-year high of $97.43.

CoStar Group declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

CSGP has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of CoStar Group in a research report on Monday, December 29th. BMO Capital Markets lowered their price target on CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. Exane BNP Paribas raised shares of CoStar Group to a “hold” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group restated a “buy” rating and issued a $84.00 target price on shares of CoStar Group in a research note on Wednesday, January 14th. Finally, Needham & Company LLC dropped their price objective on shares of CoStar Group from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.39.

CoStar Group 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.