Elo Mutual Pension Insurance Co Has $2.85 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Elo Mutual Pension Insurance Co raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 10.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,744 shares of the technology company’s stock after buying an additional 3,684 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in CoStar Group were worth $2,845,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Polen Capital Management LLC bought a new stake in shares of CoStar Group in the fourth quarter valued at about $465,134,000. Barclays PLC increased its position in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp boosted its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Finally, Amundi raised its position in CoStar Group by 30.1% in the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after purchasing an additional 650,454 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, William Blair initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Performance

NASDAQ CSGP opened at $79.31 on Friday. The company has a 50-day simple moving average of $76.96 and a 200 day simple moving average of $75.83. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $96.98. The company has a market capitalization of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

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

CoStar Group declared that its Board of Directors has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by insiders.

About CoStar Group

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.