116,837 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 116,837 shares of the technology company’s stock, valued at approximately $8,375,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in CoStar Group during the 4th quarter worth approximately $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% in the fourth 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 period. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group in the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the fourth quarter worth $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after buying an additional 402 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CSGP shares. Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating on the stock. Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Craig Hallum assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lowered 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $75.75 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $95.71. The firm has a market cap of $31.07 billion, a PE ratio of 216.43 and a beta of 0.88. The business has a 50 day moving average price of $77.28 and a 200-day moving average price of $75.76.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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