CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Ninety One North America Inc.

Ninety One North America Inc. lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,140 shares of the technology company’s stock after acquiring an additional 1,946 shares during the quarter. Ninety One North America Inc.’s holdings in CoStar Group were worth $6,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CSGP. Norges Bank acquired a new position in shares of CoStar Group during the fourth quarter valued at approximately $320,866,000. Mackenzie Financial Corp increased its stake in shares of CoStar Group by 343.8% during the first quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock valued at $194,074,000 after acquiring an additional 2,257,140 shares during the period. Capital International Investors acquired a new position in CoStar Group in the first quarter worth approximately $101,893,000. Renaissance Technologies LLC acquired a new position in CoStar Group in the first quarter worth approximately $94,633,000. Finally, Wellington Management Group LLP grew its position in CoStar Group by 51.3% in the first quarter. Wellington Management Group LLP now owns 3,477,341 shares of the technology company’s stock worth $231,626,000 after buying an additional 1,178,764 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 0.8 %

Shares of NASDAQ:CSGP traded down $0.71 during trading on Thursday, reaching $84.75. 414,850 shares of the company traded hands, compared to its average volume of 2,115,343. The firm has a fifty day simple moving average of $89.03 and a 200 day simple moving average of $84.34. The firm has a market cap of $34.61 billion, a P/E ratio of 92.89, a price-to-earnings-growth ratio of 9.92 and a beta of 0.84. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the previous year, the business earned $0.35 EPS. CoStar Group’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSGP. Citigroup lifted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada lifted their price target on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Bank of America lifted their price target on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. Finally, BTIG Research assumed coverage on shares of CoStar Group in a research note on Friday, January 19th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $100.08.

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.