CoStar Group, Inc. (NASDAQ:CSGP) Stock Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,325 shares of the technology company’s stock after purchasing an additional 54,669 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of CoStar Group worth $55,150,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CSGP. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter worth $25,000. ORG Partners LLC grew its position in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group during the fourth quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CoStar Group by 17,100.0% in 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. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $79.31 on Friday. 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 has a 50 day simple moving average of $76.96 and a 200 day simple moving average of $75.83. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $96.98. The firm has a market cap of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Sell-side analysts predict 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 repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling 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 stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CSGP. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. Keefe, Bruyette & Woods lowered 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, Craig Hallum started coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average target price of $88.07.

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.