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

ProShare Advisors LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 18.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 542,035 shares of the technology company’s stock after buying an additional 85,839 shares during the quarter. ProShare Advisors LLC’s holdings in CoStar Group were worth $38,804,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the 4th quarter worth about $32,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of CoStar Group by 414.4% in the 4th 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. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity

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

CoStar Group Trading Up 0.5%

CSGP opened at $76.05 on Friday. The stock has a market cap of $32.08 billion, a PE ratio of 217.29 and a beta of 0.89. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $78.02 and a 200-day moving average of $76.20. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $89.29.

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

CoStar Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CSGP has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Craig Hallum started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.31.

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.