CoStar Group, Inc. (NASDAQ:CSGP) Stake Increased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,764 shares of the technology company's stock after acquiring an additional 4,949 shares during the period. CoStar Group makes up about 1.5% of Azzad Asset Management Inc. ADV's holdings, making the stock its 8th largest holding. Azzad Asset Management Inc. ADV's holdings in CoStar Group were worth $7,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Polen Capital Management LLC purchased a new stake in shares of CoStar Group in the fourth quarter worth $465,134,000. Norges Bank purchased a new stake in CoStar Group during the fourth quarter valued at about $390,755,000. Capital International Investors grew its stake in shares of CoStar Group by 44.9% during 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 during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of CoStar Group by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock valued at $459,314,000 after buying an additional 1,267,263 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock valued at $80,847,000 after buying an additional 1,079,815 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $1.57 during mid-day trading on Friday, hitting $72.50. 6,147,177 shares of the company's stock traded hands, compared to its average volume of 2,916,908. The company's 50-day moving average is $77.19 and its two-hundred day moving average is $76.21. 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 capitalization of $30.59 billion, a P/E ratio of 207.14 and a beta of 0.89. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $83.68.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSGP. Needham & Company LLC raised their price objective on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 target price on the stock. Citigroup cut their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Stephens reissued an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Craig Hallum started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.54.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.09% of the company's stock.

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.