Nissay Asset Management Corp Japan ADV Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Nissay Asset Management Corp Japan ADV lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,109 shares of the technology company's stock after acquiring an additional 3,665 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in CoStar Group were worth $6,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CSGP. Barclays PLC increased its holdings in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. Assenagon Asset Management S.A. increased its holdings in CoStar Group by 39.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,366 shares of the technology company's stock valued at $28,734,000 after buying an additional 113,925 shares during the period. Park Avenue Securities LLC increased its holdings in CoStar Group by 1.9% during the fourth quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company's stock valued at $2,081,000 after buying an additional 542 shares during the period. Gateway Investment Advisers LLC increased its holdings in CoStar Group by 41.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 43,077 shares of the technology company's stock valued at $3,084,000 after buying an additional 12,692 shares during the period. Finally, Merit Financial Group LLC purchased a new position in CoStar Group during the fourth quarter valued at approximately $248,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSGP has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Craig Hallum initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Needham & Company LLC lifted their price target on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now owns 29,456 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 1.09% of the stock is currently owned by insiders.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded down $0.08 on Monday, hitting $76.91. 2,939,029 shares of the company were exchanged, compared to its average volume of 2,878,915. The firm has a market capitalization of $32.45 billion, a P/E ratio of 219.74 and a beta of 0.89. The stock's 50 day moving average price is $78.03 and its 200 day moving average price is $76.27. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $87.86. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

CoStar Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.