Securian Asset Management Inc. Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

Securian Asset Management Inc. cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,032 shares of the technology company’s stock after selling 604 shares during the quarter. Securian Asset Management Inc.’s holdings in CoStar Group were worth $1,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in CoStar Group during the fourth quarter valued at about $25,000. ORG Partners LLC increased its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group during the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CoStar Group during the fourth quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSGP has been the topic of several analyst reports. 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 initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. JPMorgan Chase & Co. decreased their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price target 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. Finally, William Blair initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Down 1.8 %

Shares of NASDAQ CSGP opened at $75.44 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm’s 50 day simple moving average is $75.19 and its two-hundred day simple moving average is $75.67. The stock has a market capitalization of $30.94 billion, a P/E ratio of 215.54 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. As a group, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has authorized a share 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is 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.