Ownership Capital B.V. Has $4.29 Million Position in CoStar Group, Inc. $CSGP

Ownership Capital B.V. cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 89.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,817 shares of the technology company’s stock after selling 423,882 shares during the period. CoStar Group comprises approximately 2.4% of Ownership Capital B.V.’s portfolio, making the stock its 19th largest position. Ownership Capital B.V.’s holdings in CoStar Group were worth $4,287,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Bank of Jackson Hole Trust acquired a new position in shares of CoStar Group in the third quarter worth approximately $55,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of CoStar Group by 7.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 43,786 shares of the technology company’s stock valued at $3,695,000 after purchasing an additional 3,170 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of CoStar Group during the third quarter worth $246,000. CIBC Asset Management Inc raised its stake in CoStar Group by 0.7% during the third quarter. CIBC Asset Management Inc now owns 153,709 shares of the technology company’s stock worth $12,968,000 after buying an additional 1,055 shares during the last quarter. Finally, Sagespring Wealth Partners LLC lifted its holdings in CoStar Group by 14.5% in the third quarter. Sagespring Wealth Partners LLC now owns 3,623 shares of the technology company’s stock valued at $306,000 after buying an additional 460 shares during the period. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of CoStar Group in a report on Thursday, October 9th. Citizens Jmp dropped their price target on CoStar Group from $100.00 to $78.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft set a $68.00 price objective on shares of CoStar Group in a research report on Thursday, January 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $84.00 target price on shares of CoStar Group in a research report on Wednesday, January 14th. Finally, Exane BNP Paribas upgraded shares of CoStar Group to a “hold” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.39.

CoStar Group Stock Performance

CSGP opened at $65.81 on Tuesday. CoStar Group, Inc. has a 1-year low of $57.01 and a 1-year high of $97.43. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 1,316.20, a PEG ratio of 1.72 and a beta of 0.84. The company’s fifty day moving average price is $65.97 and its two-hundred day moving average price is $77.37. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 28th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. CoStar Group had a net margin of 0.66% and a return on equity of 2.45%. The firm had revenue of $833.60 million during the quarter, compared to analysts’ expectations of $823.62 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. On average, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 7th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.