Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 266,069 CoStar Group, Inc. (NASDAQ:CSGP)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 266,069 shares of the technology company's stock, valued at approximately $19,048,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of CoStar Group at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. KBC Group NV raised its stake in CoStar Group by 10.6% during the 4th quarter. KBC Group NV now owns 92,730 shares of the technology company's stock worth $6,638,000 after acquiring an additional 8,907 shares in the last quarter. Pacer Advisors Inc. raised its stake in CoStar Group by 9.3% during the 4th quarter. Pacer Advisors Inc. now owns 55,337 shares of the technology company's stock worth $3,962,000 after acquiring an additional 4,716 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in CoStar Group in the fourth quarter valued at $389,000. Foster Victor Wealth Advisors LLC increased its stake in CoStar Group by 12.6% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company's stock valued at $13,874,000 after purchasing an additional 20,977 shares during the period. Finally, Forsta AP Fonden increased its stake in CoStar Group by 1.6% in the fourth quarter. Forsta AP Fonden now owns 83,300 shares of the technology company's stock valued at $5,963,000 after purchasing an additional 1,300 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CSGP. The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Piper Sandler began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating on the stock. William Blair began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating on the stock. Finally, Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Price Performance

CSGP stock traded down $1.57 during trading on Friday, reaching $72.50. 6,147,177 shares of the company were exchanged, compared to its average volume of 2,916,908. The company has a market cap of $30.59 billion, a P/E ratio of 207.14 and a beta of 0.89. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $83.68. The stock's 50 day moving average price is $77.19 and its 200 day moving average price is $76.21. 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 announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.