CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 117.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,577 shares of the technology company’s stock after purchasing an additional 13,299 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in CoStar Group were worth $1,759,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CSGP. Geode Capital Management LLC raised its position in CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after buying an additional 236,407 shares during the last quarter. Polen Capital Management LLC purchased a new position in CoStar Group during the fourth quarter worth about $465,134,000. Norges Bank acquired a new stake in CoStar Group in the fourth quarter valued at about $390,755,000. Charles Schwab Investment Management Inc. boosted its holdings in CoStar Group by 5.0% in the 4th 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 in the last quarter. Finally, Amundi increased its position in CoStar Group by 30.1% during the 4th 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 during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Down 4.2 %

Shares of NASDAQ:CSGP opened at $75.42 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 215.49 and a beta of 0.88. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $93.94. The company has a 50 day moving average price of $77.23 and a 200 day moving average price of $75.73.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CSGP shares. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective for the company. Citigroup lowered their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Craig Hallum started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group began coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by company insiders.

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.