Czech National Bank Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Czech National Bank increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,783 shares of the technology company's stock after purchasing an additional 7,895 shares during the quarter. Czech National Bank's holdings in CoStar Group were worth $7,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CSGP. Aurora Investment Managers LLC. lifted its stake in CoStar Group by 0.7% during the 1st quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock valued at $1,771,000 after acquiring an additional 164 shares during the period. Wallace Advisory Group LLC bought a new position in CoStar Group during the first quarter valued at approximately $402,000. Rhumbline Advisers boosted its holdings in CoStar Group by 7.7% in the first quarter. Rhumbline Advisers now owns 768,366 shares of the technology company's stock worth $60,878,000 after purchasing an additional 54,747 shares during the last quarter. Red Spruce Capital LLC purchased a new stake in CoStar Group in the first quarter worth approximately $1,257,000. Finally, GAMMA Investing LLC grew its position in CoStar Group by 10,064.5% in the 1st quarter. GAMMA Investing LLC now owns 501,922 shares of the technology company's stock worth $39,767,000 after purchasing an additional 496,984 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

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 on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. The trade was a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.09% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CSGP shares. Bank of America assumed coverage on CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 19th. Citigroup reduced their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Finally, William Blair started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.54.

CoStar Group Price Performance

Shares of CSGP stock traded up $1.14 on Thursday, hitting $78.20. 3,360,970 shares of the stock traded hands, compared to its average volume of 3,320,430. 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 52 week low of $68.26 and a 52 week high of $83.68. The firm has a 50 day simple moving average of $76.91 and a two-hundred day simple moving average of $76.23. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 223.43 and a beta of 0.89.

CoStar Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.