Vanguard Group Inc. Has $5.91 Billion Stock Position in CoStar Group, Inc. $CSGP

Vanguard Group Inc. lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,056,441 shares of the technology company’s stock after acquiring an additional 1,208,958 shares during the period. Vanguard Group Inc. owned approximately 0.17% of CoStar Group worth $5,910,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quent Capital LLC acquired a new position in CoStar Group during the 3rd quarter valued at about $26,000. Rossby Financial LCC boosted its position in shares of CoStar Group by 315.9% during the second quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock valued at $27,000 after buying an additional 259 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in CoStar Group during the third quarter worth $28,000. Westside Investment Management Inc. raised its position in CoStar Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock valued at $30,000 after buying an additional 180 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in CoStar Group during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of several recent analyst reports. Bank of America set a $74.00 target price on shares of CoStar Group in a research note on Wednesday, January 7th. Jefferies Financial Group raised shares of CoStar Group to a “hold” rating in a research report on Wednesday, October 29th. Citigroup reissued a “market outperform” rating on shares of CoStar Group in a research report on Thursday, January 8th. BMO Capital Markets cut their target price on CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a research note on Thursday, January 8th. Finally, BTIG Research raised CoStar Group from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.24.

CoStar Group Trading Down 0.1%

Shares of CoStar Group stock opened at $44.99 on Tuesday. The company’s 50-day moving average price is $61.80 and its 200-day moving average price is $73.63. 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, Inc. has a 12-month low of $43.92 and a 12-month high of $97.43. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 899.80, a PEG ratio of 1.18 and a beta of 0.84.

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

CoStar Group 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.