Ameriprise Financial Inc. Has $196.83 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Ameriprise Financial Inc. lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 31.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,749,116 shares of the technology company's stock after purchasing an additional 665,483 shares during the period. Ameriprise Financial Inc. owned 0.67% of CoStar Group worth $196,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in CoStar Group in the fourth quarter valued at approximately $25,000. ORG Partners LLC lifted its holdings in 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 purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in CoStar Group during the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group in the fourth quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after purchasing an additional 402 shares during the period. 96.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CSGP shares. JPMorgan Chase & Co. reduced their price target on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, February 19th. Piper Sandler assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating for the company. The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Finally, William Blair started coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.31.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated 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 directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.57% of the company's stock.

CoStar Group Price Performance

Shares of CSGP traded down $1.29 during trading hours on Friday, reaching $74.56. The stock had a trading volume of 2,300,106 shares, compared to its average volume of 2,846,931. 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 12 month low of $68.26 and a 12 month high of $91.24. The stock has a market capitalization of $31.45 billion, a PE ratio of 213.03 and a beta of 0.89. The company's 50-day moving average is $78.26 and its two-hundred day moving average is $76.15.

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

CoStar Group declared that its board has initiated 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 often a sign that the company's leadership believes its shares are 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.