ProShare Advisors LLC Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

ProShare Advisors LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 542,035 shares of the technology company's stock after buying an additional 85,839 shares during the quarter. ProShare Advisors LLC owned approximately 0.13% of CoStar Group worth $38,804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Barclays PLC increased its holdings in CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after purchasing 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 4th quarter. Assenagon Asset Management S.A. now owns 401,366 shares of the technology company's stock worth $28,734,000 after purchasing an additional 113,925 shares during the period. Park Avenue Securities LLC increased its holdings in CoStar Group by 1.9% during the 4th quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company's stock worth $2,081,000 after purchasing an additional 542 shares during the period. Gateway Investment Advisers LLC increased its holdings in CoStar Group by 41.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 43,077 shares of the technology company's stock worth $3,084,000 after purchasing an additional 12,692 shares during the period. Finally, Merit Financial Group LLC purchased a new position in CoStar Group during the 4th quarter worth $248,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CSGP shares. The Goldman Sachs Group began coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating on the stock. Wells Fargo & Company lifted their price target on CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their price target on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Needham & Company LLC lifted their price target on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and an average target price of $88.31.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 of the company's stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.09% of the stock is currently owned by insiders.

CoStar Group Stock Down 0.1%

Shares of CoStar Group stock traded down $0.08 during trading on Monday, reaching $76.91. The company's stock had a trading volume of 2,939,029 shares, compared to its average volume of 2,878,915. 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 company has a market cap of $32.45 billion, a price-to-earnings ratio of 219.74 and a beta of 0.89. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $87.86. The company has a 50-day simple moving average of $78.03 and a two-hundred day simple moving average of $76.27.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $703.00 million. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management 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.