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

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSGP. Polen Capital Management LLC bought a new stake in CoStar Group during the 4th quarter valued at $465,134,000. Norges Bank acquired a new stake in shares of CoStar Group during the 4th quarter valued at about $390,755,000. Capital International Investors grew its position 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 valued at $1,004,578,000 after acquiring an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. grew its position 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 valued at $459,314,000 after acquiring an additional 1,267,263 shares during the period. Finally, Canada Pension Plan Investment Board grew its position 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 valued at $80,847,000 after acquiring an additional 1,079,815 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Down 2.1%

CoStar Group stock traded down $1.57 during midday trading on Friday, reaching $72.50. The stock had a trading volume of 6,147,177 shares, compared to its average volume of 2,917,133. The firm's fifty day simple moving average is $77.19 and its two-hundred day simple moving average is $76.22. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm has a market cap of $30.59 billion, a price-to-earnings ratio of 207.14 and a beta of 0.89.

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CSGP shares. Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Piper Sandler started coverage on CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating for the company. Keefe, Bruyette & Woods upped their price target on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. Finally, William Blair began coverage on CoStar Group in a report on Friday, February 28th. They issued a "market perform" rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and an average price target 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.