ProShare Advisors LLC Purchases 85,839 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

ProShare Advisors LLC grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,035 shares of the technology company’s stock after acquiring an additional 85,839 shares during the quarter. ProShare Advisors LLC owned about 0.13% of CoStar Group worth $38,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Barclays PLC increased its holdings in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of CoStar Group by 39.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,366 shares of the technology company’s stock valued at $28,734,000 after buying an additional 113,925 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of CoStar Group by 1.9% during the fourth quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company’s stock valued at $2,081,000 after buying an additional 542 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of CoStar Group by 41.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 43,077 shares of the technology company’s stock valued at $3,084,000 after buying an additional 12,692 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of CoStar Group during the fourth quarter valued at approximately $248,000. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSGP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Thursday, April 17th. Craig Hallum began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Needham & Company LLC lifted their target price on CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus target price of $88.31.

CoStar Group Stock Up 0.5%

Shares of NASDAQ CSGP opened at $76.05 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $89.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business’s fifty day moving average price is $78.02 and its 200-day moving average price is $76.20. The stock has a market capitalization of $32.08 billion, a PE ratio of 217.29 and a beta of 0.89.

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

CoStar Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity 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 stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate 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.