Mitsubishi UFJ Asset Management Co. Ltd. Has $55.15 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 7.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 763,325 shares of the technology company’s stock after acquiring an additional 54,669 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CoStar Group were worth $55,150,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. State Street Corp grew its stake in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares during the period. Geode Capital Management LLC grew its position in shares of CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares during the period. Polen Capital Management LLC bought a new stake in CoStar Group during the 4th quarter worth approximately $465,134,000. Charles Schwab Investment Management Inc. raised its holdings in CoStar Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after buying an additional 133,876 shares during the period. Finally, Amundi lifted its stake in CoStar Group by 30.1% in the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after buying an additional 650,454 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, Needham & Company LLC cut their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Price Performance

Shares of CSGP opened at $79.31 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $76.96 and its 200 day simple moving average is $75.83. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $96.98. The company has a market cap of $32.53 billion, a price-to-earnings ratio of 226.60 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. On average, research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

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.