CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Bamco Inc. NY

Bamco Inc. NY lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,203,564 shares of the technology company's stock after purchasing an additional 418,128 shares during the quarter. CoStar Group comprises approximately 3.6% of Bamco Inc. NY's portfolio, making the stock its 4th biggest position. Bamco Inc. NY owned about 4.68% of CoStar Group worth $1,374,783,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSGP. Capital International Investors boosted its stake in shares of CoStar Group by 44.9% in the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after buying an additional 4,345,267 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after buying an additional 166,769 shares in the last quarter. Akre Capital Management LLC grew its holdings in CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after purchasing an additional 379,787 shares during the last quarter. Polen Capital Management LLC purchased a new position in shares of CoStar Group in the fourth quarter valued at $465,134,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of CoStar Group by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock worth $459,314,000 after buying an additional 1,267,263 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a report on Thursday, April 17th. The Goldman Sachs Group initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and an average target price of $88.31.

Insider Buying and Selling at CoStar Group

In other CoStar Group 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 transaction of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Trading Down 1.5 %

CSGP stock traded down $1.12 on Friday, hitting $74.73. 1,272,392 shares of the company were exchanged, compared to its average volume of 2,836,358. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 213.51 and a beta of 0.89. The business's fifty day moving average is $78.28 and its two-hundred day moving average is $76.17. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $91.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

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, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, research 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 stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is 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.