ProShare Advisors LLC Trims Stock Position in CoStar Group, Inc. $CSGP

ProShare Advisors LLC lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 17.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 547,465 shares of the technology company’s stock after selling 113,968 shares during the period. ProShare Advisors LLC’s holdings in CoStar Group were worth $46,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Candriam S.C.A. lifted its position in CoStar Group by 30.6% in the third quarter. Candriam S.C.A. now owns 25,644 shares of the technology company’s stock valued at $2,164,000 after buying an additional 6,006 shares during the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of CoStar Group by 0.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 98,485 shares of the technology company’s stock valued at $8,309,000 after acquiring an additional 408 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of CoStar Group by 34.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 9,126 shares of the technology company’s stock worth $769,000 after acquiring an additional 2,333 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of CoStar Group by 83.0% during the 3rd quarter. Alps Advisors Inc. now owns 20,750 shares of the technology company’s stock worth $1,751,000 after purchasing an additional 9,412 shares during the period. Finally, Canada Post Corp Registered Pension Plan increased its holdings in CoStar Group by 122.4% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 11,920 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 6,560 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CSGP shares. Jefferies Financial Group raised CoStar Group to a “hold” rating in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. BMO Capital Markets lowered their price objective on shares of CoStar Group from $77.00 to $72.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Raymond James Financial set a $74.00 target price on shares of CoStar Group in a research note on Wednesday, January 7th. Finally, BNP Paribas Exane started coverage on shares of CoStar Group in a report on Wednesday, January 14th. They set a “neutral” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.00.

CoStar Group Stock Up 1.4%

Shares of NASDAQ:CSGP opened at $50.96 on Tuesday. The firm has a 50 day simple moving average of $63.92 and a 200-day simple moving average of $75.31. CoStar Group, Inc. has a twelve month low of $48.56 and a twelve month high of $97.43. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $21.60 billion, a PE ratio of 1,019.20, a P/E/G ratio of 1.32 and a beta of 0.84.

CoStar Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

CoStar Group Company 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.