Mitsubishi UFJ Trust & Banking Corp Has $38.70 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 540,599 shares of the technology company’s stock after selling 46,145 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in CoStar Group were worth $38,701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CSGP. Allworth Financial LP increased 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 buying an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after acquiring an additional 176 shares during the last quarter. Moran Wealth Management LLC raised its stake in CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after acquiring an additional 180 shares during the period. FWG Holdings LLC raised its stake in CoStar Group by 3.5% in the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock valued at $494,000 after acquiring an additional 219 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after purchasing an additional 220 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Transactions at CoStar Group

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. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CSGP shares. William Blair initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating on the stock. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Craig Hallum started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, Citigroup dropped their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Performance

Shares of CSGP stock opened at $80.37 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.64. The business’s 50 day simple moving average is $76.72 and its 200 day simple moving average is $75.80. The stock has a market capitalization of $32.96 billion, a PE ratio of 229.63 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication 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.