CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,993,324 shares of the technology company's stock after acquiring an additional 697,721 shares during the quarter. Northern Trust Corp owned about 0.97% of CoStar Group worth $285,882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSGP. Barclays PLC raised its stake in CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of CoStar Group during the third quarter valued at approximately $256,000. Tidal Investments LLC boosted its position in shares of CoStar Group by 292.0% during the third quarter. Tidal Investments LLC now owns 73,184 shares of the technology company's stock worth $5,521,000 after acquiring an additional 54,515 shares during the last quarter. JPMorgan Chase & Co. grew its stake in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock valued at $177,913,000 after acquiring an additional 1,001,177 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in CoStar Group by 7.7% in the 4th quarter. GAMMA Investing LLC now owns 4,938 shares of the technology company's stock worth $354,000 after purchasing an additional 355 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 transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Down 1.8 %

NASDAQ:CSGP traded down $1.36 during mid-day trading on Tuesday, reaching $75.74. The company's stock had a trading volume of 560,796 shares, compared to its average volume of 2,815,286. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $92.74. The stock has a fifty day moving average of $78.28 and a 200-day moving average of $76.20. The firm has a market capitalization of $31.94 billion, a PE ratio of 216.77 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors 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 generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSGP shares. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Wells Fargo & Company boosted their price target on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $83.00 price objective on shares of CoStar Group in a research report on Thursday, April 17th. Finally, Needham & Company LLC boosted their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Two equities research 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Company 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.