China Universal Asset Management Co. Ltd. Increases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

China Universal Asset Management Co. Ltd. raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 28.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,672 shares of the technology company’s stock after purchasing an additional 1,474 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in CoStar Group were worth $478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in CoStar Group in the 2nd quarter worth about $2,096,000. Centaurus Financial Inc. grew its stake in shares of CoStar Group by 192.6% in the second quarter. Centaurus Financial Inc. now owns 6,800 shares of the technology company’s stock worth $504,000 after acquiring an additional 4,476 shares during the period. Czech National Bank raised its holdings in shares of CoStar Group by 7.3% during the third quarter. Czech National Bank now owns 83,484 shares of the technology company’s stock valued at $6,298,000 after purchasing an additional 5,671 shares during the last quarter. SG Americas Securities LLC lifted its position in CoStar Group by 33.5% during the third quarter. SG Americas Securities LLC now owns 73,566 shares of the technology company’s stock valued at $5,550,000 after purchasing an additional 18,468 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in CoStar Group by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 113,696 shares of the technology company’s stock worth $8,577,000 after purchasing an additional 2,414 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $76.60 on Monday. The company has a 50 day simple moving average of $74.67 and a two-hundred day simple moving average of $75.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a market cap of $31.40 billion, a P/E ratio of 174.09 and a beta of 0.85. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSGP. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. BMO Capital Markets cut their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.33.

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.