National Pension Service Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

National Pension Service trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 51.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,746 shares of the technology company’s stock after selling 529,197 shares during the quarter. National Pension Service’s holdings in CoStar Group were worth $35,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CSGP. Barclays PLC boosted its holdings in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp lifted its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of CoStar Group in the 3rd quarter worth approximately $48,768,000. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock worth $30,925,000 after acquiring an additional 405,062 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Up 2.5 %

Shares of NASDAQ:CSGP opened at $76.25 on Friday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company’s 50 day moving average is $74.30 and its two-hundred day moving average is $75.52. 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 has a market cap of $31.27 billion, a PE ratio of 217.86 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $703.00 million. Equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased 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. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Needham & Company LLC decreased their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.