Generali Asset Management SPA SGR Buys Shares of 3,312 CoStar Group, Inc. (NASDAQ:CSGP)

Generali Asset Management SPA SGR purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,312 shares of the technology company’s stock, valued at approximately $237,000.

Several other institutional investors have also modified their holdings of CSGP. JPMorgan Chase & Co. lifted its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC lifted its position in CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the period. Kovitz Investment Group Partners LLC bought a new position in CoStar Group during the 3rd quarter worth about $621,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock valued at $511,000 after purchasing an additional 5,940 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other 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 transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Price Performance

NASDAQ:CSGP opened at $79.02 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.91. The firm has a market capitalization of $32.41 billion, a price-to-earnings ratio of 225.77 and a beta of 0.93. The stock’s 50 day moving average price is $75.97 and its two-hundred day moving average price is $75.74. 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 (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share 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 business had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. On average, analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has authorized a share buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSGP. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Needham & Company LLC decreased their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.07.

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.