National Pension Service grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 23.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 682,119 shares of the technology company’s stock after acquiring an additional 128,520 shares during the quarter. National Pension Service’s holdings in CoStar Group were worth $45,866,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Integrated Wealth Concepts LLC boosted its position in shares of CoStar Group by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,789 shares of the technology company’s stock worth $379,000 after acquiring an additional 426 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of CoStar Group by 727.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,473 shares of the technology company’s stock worth $117,000 after acquiring an additional 1,295 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of CoStar Group by 860.7% during the 1st quarter. Jones Financial Companies Lllp now owns 12,691 shares of the technology company’s stock worth $1,006,000 after acquiring an additional 11,370 shares in the last quarter. Empowered Funds LLC boosted its position in shares of CoStar Group by 9.2% during the 1st quarter. Empowered Funds LLC now owns 7,941 shares of the technology company’s stock worth $629,000 after acquiring an additional 666 shares in the last quarter. Finally, Woodline Partners LP boosted its position in shares of CoStar Group by 44.6% during the 1st quarter. Woodline Partners LP now owns 35,604 shares of the technology company’s stock worth $2,821,000 after acquiring an additional 10,984 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.
CoStar Group Price Performance
CSGP stock opened at $32.20 on Monday. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 536.76, a PEG ratio of 0.83 and a beta of 0.72. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $31.35 and a 12-month high of $97.43. The company’s fifty day simple moving average is $36.88 and its 200 day simple moving average is $51.48.
Insider Activity
In related news, Director Louise S. Sams bought 1,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $48.36 per share, for a total transaction of $48,360.00. Following the completion of the purchase, the director directly owned 20,409 shares in the company, valued at $986,979.24. The trade was a 5.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew C. Florance purchased 71,430 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $35.20 per share, for a total transaction of $2,514,336.00. Following the completion of the purchase, the chief executive officer directly owned 1,722,865 shares in the company, valued at $60,644,848. This represents a 4.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.09% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of CoStar Group from $40.00 to $33.00 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Bank of America reduced their price target on shares of CoStar Group from $42.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Jefferies Financial Group upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Friday, February 20th. Wall Street Zen upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, BTIG Research reiterated a “buy” rating and set a $55.00 price target on shares of CoStar Group in a research report on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.94.
Check Out Our Latest Research Report on CoStar Group
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.
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