Janus Henderson Group PLC Has $4.18 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Janus Henderson Group PLC trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 99.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,428 shares of the technology company's stock after selling 6,568,801 shares during the period. Janus Henderson Group PLC's holdings in CoStar Group were worth $4,181,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Bamco Inc. NY lifted its holdings in CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after buying an additional 418,128 shares during the period. Capital International Investors lifted its holdings in CoStar Group by 44.9% in 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 period. Geode Capital Management LLC lifted its holdings in CoStar Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock valued at $819,678,000 after buying an additional 166,769 shares during the period. Akre Capital Management LLC lifted its holdings in CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after buying an additional 379,787 shares during the period. Finally, Polen Capital Management LLC acquired a new position in CoStar Group in the fourth quarter valued at approximately $465,134,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on CSGP shares. Craig Hallum started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a report on Thursday, April 17th. Piper Sandler assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $88.31.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.09% of the stock is currently owned by company insiders.

CoStar Group Trading Down 0.1%

Shares of NASDAQ:CSGP opened at $76.91 on Tuesday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $87.86. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company's fifty day simple moving average is $78.03 and its 200 day simple moving average is $76.30. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of 219.74 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 EPS for the quarter, hitting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management 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.

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