UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 551,594 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,647,849 shares of the technology company's stock after purchasing an additional 551,594 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.65% of CoStar Group worth $189,560,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in shares of CoStar Group by 497.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after purchasing an additional 5,940 shares in the last quarter. Allworth Financial LP raised its position in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after acquiring an additional 173 shares in the last quarter. Barclays PLC raised its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its position in CoStar Group by 12.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company's stock worth $13,874,000 after acquiring an additional 20,977 shares in the last quarter. Finally, Vantage Investment Partners LLC raised its position in CoStar Group by 21.6% during the fourth quarter. Vantage Investment Partners LLC now owns 614,014 shares of the technology company's stock worth $43,957,000 after acquiring an additional 108,998 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Analysts Set New Price Targets

CSGP has been the topic of several analyst reports. Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Needham & Company LLC upped their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company upped their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.31.

CoStar Group Stock Up 0.2%

CoStar Group stock opened at $74.14 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $87.27. The firm has a 50 day moving average price of $77.83 and a two-hundred day moving average price of $76.29. The firm has a market cap of $31.28 billion, a price-to-earnings ratio of 211.83 and a beta of 0.89.

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

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

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction 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 in the company, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.09% of the company's stock.

About CoStar Group

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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