Royal London Asset Management Ltd. Purchases 9,899 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Royal London Asset Management Ltd. grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 402,286 shares of the technology company’s stock after purchasing an additional 9,899 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.10% of CoStar Group worth $28,800,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its position in shares of CoStar Group by 27.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 24,127 shares of the technology company’s stock valued at $1,726,000 after purchasing an additional 5,249 shares during the last quarter. Platinum Investment Management Ltd. increased its position in shares of CoStar Group by 40.0% during the 4th quarter. Platinum Investment Management Ltd. now owns 70,000 shares of the technology company’s stock valued at $5,011,000 after purchasing an additional 20,000 shares during the last quarter. Enhancing Capital LLC bought a new position in shares of CoStar Group during the 4th quarter valued at about $477,000. Xponance Inc. increased its position in shares of CoStar Group by 1.7% during the 4th quarter. Xponance Inc. now owns 56,155 shares of the technology company’s stock valued at $4,020,000 after purchasing an additional 957 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of CoStar Group by 205.8% during the 4th quarter. Intech Investment Management LLC now owns 21,632 shares of the technology company’s stock valued at $1,549,000 after purchasing an additional 14,559 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Down 0.7 %

Shares of NASDAQ:CSGP opened at $78.46 on Friday. The stock has a fifty day simple moving average of $76.15 and a two-hundred day simple moving average of $75.74. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.73. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on 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 sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CSGP. Needham & Company LLC reduced their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.