Rockefeller Capital Management L.P. Invests $885,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Rockefeller Capital Management L.P. bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 12,347 shares of the technology company's stock, valued at approximately $885,000.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the 4th quarter valued at about $25,000. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group during the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group during the 4th quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after buying an additional 402 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Insider Activity 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 sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CSGP shares. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Craig Hallum started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. 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 note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group has a consensus rating of "Moderate Buy" and a consensus price target of $87.54.

CoStar Group Stock Down 1.3 %

Shares of NASDAQ CSGP traded down $1.08 during mid-day trading on Monday, hitting $81.74. 3,945,069 shares of the stock traded hands, compared to its average volume of 2,745,343. 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 52 week low of $68.26 and a 52 week high of $93.29. The company has a market cap of $33.52 billion, a price-to-earnings ratio of 233.54 and a beta of 0.88. The stock has a fifty day moving average price of $78.25 and a 200-day moving average price of $76.21.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

CoStar Group Profile

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.