40,000 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by OFI Invest Asset Management

OFI Invest Asset Management bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 40,000 shares of the technology company’s stock, valued at approximately $2,765,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSGP. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the 3rd quarter worth approximately $40,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CSGP shares. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. Wells Fargo & Company decreased their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Performance

Shares of CSGP stock opened at $79.39 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $74.73 and a 200-day simple moving average of $75.63. The company has a market cap of $32.56 billion, a price-to-earnings ratio of 226.83 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last announced its quarterly 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. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. On average, equities analysts forecast 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 plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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.