ING Groep NV Purchases 121,807 Shares of CoStar Group, Inc. $CSGP

ING Groep NV boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1,950.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,052 shares of the technology company’s stock after purchasing an additional 121,807 shares during the quarter. ING Groep NV’s holdings in CoStar Group were worth $10,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSGP. Quent Capital LLC bought a new stake in shares of CoStar Group during the 3rd quarter valued at $26,000. Rossby Financial LCC lifted its position in CoStar Group by 315.9% during the 2nd quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock valued at $27,000 after acquiring an additional 259 shares during the period. Manning & Napier Advisors LLC bought a new stake in CoStar Group during the third quarter worth about $28,000. Westside Investment Management Inc. grew its holdings in CoStar Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock worth $30,000 after purchasing an additional 180 shares during the period. Finally, Root Financial Partners LLC bought a new position in shares of CoStar Group during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $47.87 on Thursday. The firm’s 50-day moving average price is $63.15 and its 200-day moving average price is $74.83. CoStar Group, Inc. has a 52-week low of $46.78 and a 52-week high of $97.43. The company has a market cap of $20.29 billion, a PE ratio of 957.40, a PEG ratio of 1.33 and a beta of 0.84. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

CoStar Group declared that its board has initiated a share buyback program on Wednesday, January 7th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CSGP shares. Citizens Jmp dropped their price target on 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. Zacks Research downgraded CoStar Group from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Citigroup reiterated a “market outperform” rating on shares of CoStar Group in a research note on Thursday, January 8th. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $100.00 to $75.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft set a $68.00 target price on shares of CoStar Group in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.24.

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.