Katamaran Capital LLP Buys Shares of 61,235 CoStar Group, Inc. (NASDAQ:CSGP)

Katamaran Capital LLP bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, Holdings Channel reports. The fund bought 61,235 shares of the technology company’s stock, valued at approximately $4,384,000. CoStar Group accounts for approximately 5.6% of Katamaran Capital LLP’s portfolio, making the stock its 4th largest holding.

A number of other large investors have also made changes to their positions in CSGP. Resona Asset Management Co. Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter worth approximately $8,375,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares in the last quarter. DF Dent & Co. Inc. grew its holdings in CoStar Group by 38.5% in the fourth quarter. DF Dent & Co. Inc. now owns 2,456,562 shares of the technology company’s stock valued at $175,865,000 after purchasing an additional 682,984 shares during the last quarter. Motley Fool Asset Management LLC increased its position in shares of CoStar Group by 10.2% in the fourth quarter. Motley Fool Asset Management LLC now owns 83,242 shares of the technology company’s stock valued at $5,959,000 after buying an additional 7,712 shares in the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in shares of CoStar Group in the 4th quarter worth about $212,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $72.62 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The company has a market cap of $29.78 billion, a price-to-earnings ratio of 207.49 and a beta of 0.93. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $95.71. The firm has a 50 day moving average price of $77.30 and a 200 day moving average price of $75.79.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 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 during the quarter, compared to the consensus estimate of $703.00 million. Sell-side analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has initiated a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. William Blair started coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price objective on the stock. Two 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.07.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on 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 owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is currently owned by insiders.

CoStar Group Company 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.