Lansforsakringar Fondforvaltning AB publ Invests $9.77 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 136,438 shares of the technology company's stock, valued at approximately $9,768,000.

A number of other hedge funds have also recently bought and sold shares of CSGP. Polen Capital Management LLC purchased a new position in CoStar Group during the 4th quarter worth $465,134,000. Norges Bank bought a new stake in shares of CoStar Group during the 4th quarter worth $390,755,000. Capital International Investors raised its stake in shares of CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of CoStar Group by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock worth $459,314,000 after purchasing an additional 1,267,263 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of CoStar Group by 2,181.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock worth $80,847,000 after purchasing an additional 1,079,815 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 CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.09% of the company's stock.

CoStar Group Stock Performance

CoStar Group stock traded down $0.29 during midday trading on Monday, reaching $73.27. The stock had a trading volume of 2,692,676 shares, compared to its average volume of 2,916,244. 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 firm has a market capitalization of $30.91 billion, a PE ratio of 209.34 and a beta of 0.89. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $83.68. The firm's 50-day moving average price is $77.04 and its 200 day moving average price is $76.23.

CoStar Group declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSGP. JMP Securities reiterated a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Wells Fargo & Company lifted their target price on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Stephens reiterated an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Finally, Bank of America began coverage on CoStar Group in a research note on Friday. They set a "neutral" rating and a $79.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $87.54.

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.