Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in CoStar Group, raising its ownership by 13.7% to a total of 867,557 shares, worth about $68.74 million.
• CoStar Group's stock shows a 52-week low of $68.26 and a high of $97.43, with a current market price of $94.50.
• Analysts have a consensus rating of "Moderate Buy" for CoStar Group, with price targets varying from $79.00 to $105.00.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 867,557 shares of the technology company's stock after buying an additional 104,232 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of CoStar Group worth $68,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CSGP. Bayforest Capital Ltd acquired a new stake in CoStar Group during the 1st quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in CoStar Group during the 1st quarter valued at $29,000. Cullen Frost Bankers Inc. increased its holdings in CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after purchasing an additional 235 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in CoStar Group during the 1st quarter valued at $33,000. Finally, Close Asset Management Ltd acquired a new stake in shares of CoStar Group in the 1st quarter valued at $41,000. Institutional investors own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the transaction, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.09% of the company's stock.

CoStar Group Price Performance

NASDAQ CSGP traded down $4.04 on Tuesday, hitting $88.46. 5,088,415 shares of the company's stock were exchanged, compared to its average volume of 3,199,677. The stock has a 50-day moving average of $85.34 and a 200-day moving average of $79.98. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. The stock has a market cap of $37.48 billion, a price-to-earnings ratio of 353.84, a P/E/G ratio of 4.60 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The company's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 earnings per share. Analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

CSGP has been the topic of several recent research reports. Wells Fargo & Company restated an "underweight" rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. BMO Capital Markets raised their price target on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Finally, Bank of America initiated coverage on CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

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.