Davidson Kahn Capital Management LLC Makes New $2.40 Million Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Davidson Kahn Capital Management LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,512 shares of the technology company's stock, valued at approximately $2,399,000. CoStar Group accounts for 2.2% of Davidson Kahn Capital Management LLC's portfolio, making the stock its 18th largest position.

A number of other institutional investors also recently added to or reduced their stakes in CSGP. JPMorgan Chase & Co. grew its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in CoStar Group by 497.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after acquiring an additional 5,940 shares during the last quarter. Allworth Financial LP increased its stake in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $27,446,000. Finally, Barclays PLC lifted its stake in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In related 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 value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.57% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CSGP shares. Citigroup reduced their price objective on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Wells Fargo & Company lifted their price objective on CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Craig Hallum started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. Finally, William Blair assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Stock Down 2.9 %

CSGP traded down $2.24 during trading on Tuesday, hitting $74.86. The company had a trading volume of 989,544 shares, compared to its average volume of 3,404,608. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $92.74. 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 company has a market cap of $31.57 billion, a PE ratio of 213.87 and a beta of 0.89. The business has a 50-day moving average of $78.28 and a 200-day moving average of $76.20.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. As a group, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors 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.