Elo Mutual Pension Insurance Co Boosts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Elo Mutual Pension Insurance Co boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 10.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,744 shares of the technology company’s stock after acquiring an additional 3,684 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in CoStar Group were worth $2,845,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in CoStar Group by 4.4% during 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 in the last quarter. Geode Capital Management LLC lifted its stake in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Polen Capital Management LLC purchased a new stake in CoStar Group during the fourth quarter worth approximately $465,134,000. Charles Schwab Investment Management Inc. increased its stake in CoStar Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock valued at $201,758,000 after purchasing an additional 133,876 shares during the last quarter. Finally, Amundi raised its holdings in CoStar Group by 30.1% during the fourth quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after purchasing an additional 650,454 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CSGP. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. The Goldman Sachs Group assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

Insider Activity at CoStar Group

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

CoStar Group Stock Down 1.0 %

Shares of NASDAQ:CSGP opened at $79.31 on Friday. The stock has a 50-day simple moving average of $76.96 and a 200-day simple moving average of $75.83. The stock has a market capitalization of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $96.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

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

CoStar Group declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

CoStar Group Profile

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.