Toronto Dominion Bank Buys 91,822 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Toronto Dominion Bank grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 64.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,397 shares of the technology company's stock after acquiring an additional 91,822 shares during the period. Toronto Dominion Bank owned 0.06% of CoStar Group worth $16,852,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Polen Capital Management LLC acquired a new stake in CoStar Group in the 4th quarter worth about $465,134,000. Norges Bank bought a new stake in shares of CoStar Group in the fourth quarter valued at approximately $390,755,000. Capital International Investors grew its position in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after buying an additional 4,345,267 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in 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 acquiring an additional 1,267,263 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in 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 acquiring an additional 1,079,815 shares during the period. Institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

Shares of CSGP opened at $76.91 on Tuesday. 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 stock has a market cap of $32.45 billion, a PE ratio of 219.74 and a beta of 0.89. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $87.86. The business has a 50-day simple moving average of $78.03 and a two-hundred day simple moving average of $76.30.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. Analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

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 transaction, the chief accounting officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $88.31.

CoStar Group 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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