Natixis Advisors LLC Purchases 43,443 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Natixis Advisors LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,013 shares of the technology company’s stock after purchasing an additional 43,443 shares during the period. Natixis Advisors LLC’s holdings in CoStar Group were worth $38,588,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC boosted its holdings in CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in CoStar Group by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock valued at $201,758,000 after purchasing an additional 133,876 shares during the period. Amundi boosted its holdings in CoStar Group by 30.1% in the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after purchasing an additional 650,454 shares during the period. Finally, JPMorgan Chase & Co. lifted 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 acquiring an additional 1,001,177 shares during the period. 96.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Craig Hallum assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating on the stock. Two equities 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

NASDAQ CSGP opened at $78.73 on Monday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a market capitalization of $32.29 billion, a PE ratio of 224.94 and a beta of 0.93. The firm’s 50 day moving average is $75.32 and its 200-day moving average is $75.66.

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

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

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.