Deutsche Bank AG Acquires 321,919 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Deutsche Bank AG raised its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,589,997 shares of the technology company's stock after purchasing an additional 321,919 shares during the period. Deutsche Bank AG owned 0.39% of CoStar Group worth $113,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Colonial Trust Co SC grew its stake in shares of CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP boosted its stake in shares of CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock valued at $2,105,000 after buying an additional 146 shares in the last quarter. Allworth Financial LP raised its holdings in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after purchasing an additional 176 shares in the last quarter. Finally, Moran Wealth Management LLC raised its position in shares of CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

CoStar Group stock traded up $0.51 during trading hours on Wednesday, hitting $75.69. The company had a trading volume of 2,698,792 shares, compared to its average volume of 2,864,564. The firm has a market cap of $31.93 billion, a PE ratio of 216.26 and a beta of 0.89. 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, Inc. has a one year low of $68.26 and a one year high of $89.33. The firm has a 50-day moving average of $78.17 and a 200 day moving average of $76.19.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Craig Hallum assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Citigroup dropped their price objective on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, William Blair started coverage on CoStar Group in a research 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 issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and an average target price of $88.31.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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 of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

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.