CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 108.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 879,915 shares of the technology company’s stock after acquiring an additional 456,842 shares during the quarter. Bridgewater Associates LP owned about 0.21% of CoStar Group worth $62,993,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Polen Capital Management LLC purchased a new position in CoStar Group during the fourth quarter worth about $465,134,000. Norges Bank acquired a new stake in CoStar Group during the fourth quarter worth $390,755,000. Barclays PLC raised its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. Finally, DF Dent & Co. Inc. raised its holdings in CoStar Group by 38.5% in the 4th quarter. DF Dent & Co. Inc. now owns 2,456,562 shares of the technology company’s stock valued at $175,865,000 after buying an additional 682,984 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $79.53 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $93.94. The firm has a market capitalization of $32.62 billion, a P/E ratio of 227.23 and a beta of 0.88. The company’s fifty day moving average price is $77.27 and its 200 day moving average price is $75.80.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, sell-side analysts predict 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 authorized a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSGP has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Finally, Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.54.

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.