Franklin Resources Inc. Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Franklin Resources Inc. increased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,237,117 shares of the technology company’s stock after buying an additional 14,984 shares during the quarter. Franklin Resources Inc. owned 0.55% of CoStar Group worth $160,155,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the period. Moran Wealth Management LLC raised its position in CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after purchasing an additional 180 shares during the last quarter. FWG Holdings LLC lifted its holdings in CoStar Group by 3.5% in the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after buying an additional 219 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of CoStar Group by 5.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after buying an additional 220 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Finally, Keefe, Bruyette & Woods cut their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.07.

Insider Activity at CoStar Group

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

CoStar Group Stock Up 0.9 %

Shares of NASDAQ:CSGP opened at $79.92 on Thursday. 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 stock has a fifty day simple moving average of $77.29 and a two-hundred day simple moving average of $75.82. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $95.71. The stock has a market capitalization of $32.78 billion, a price-to-earnings ratio of 228.34 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million for 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%. On average, research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

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.