Vanguard Group Inc. Has $5.91 Billion Stake in CoStar Group, Inc. $CSGP

Vanguard Group Inc. boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,056,441 shares of the technology company’s stock after purchasing an additional 1,208,958 shares during the period. Vanguard Group Inc. owned 16.53% of CoStar Group worth $5,910,662,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CSGP. Quent Capital LLC bought a new stake in shares of CoStar Group during the third quarter worth about $26,000. Rossby Financial LCC grew its holdings in CoStar Group by 315.9% during the 2nd quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock worth $27,000 after acquiring an additional 259 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CoStar Group during the third quarter valued at $28,000. Westside Investment Management Inc. lifted its holdings in shares of CoStar Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock worth $30,000 after purchasing an additional 180 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of CoStar Group in the third quarter worth $31,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Price Performance

CSGP stock opened at $44.99 on Tuesday. CoStar Group, Inc. has a 1 year low of $43.92 and a 1 year high of $97.43. The stock has a market capitalization of $19.07 billion, a PE ratio of 899.80, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The company’s 50-day moving average is $61.80 and its 200-day moving average is $73.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 3.12.

CoStar Group announced that its Board of Directors has approved a share buyback plan on Wednesday, January 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the topic of several recent research reports. Jefferies Financial Group raised CoStar Group to a “hold” rating in a report on Wednesday, October 29th. Needham & Company LLC reduced their target price on CoStar Group from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. BMO Capital Markets decreased their target price on shares of CoStar Group from $77.00 to $72.00 and set a “market perform” rating for the company in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft set a $68.00 price target on shares of CoStar Group in a report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $100.00 to $75.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.24.

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.