383,230 Shares in CoStar Group, Inc. $CSGP Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, HoldingsChannel reports. The institutional investor bought 383,230 shares of the technology company’s stock, valued at approximately $32,333,000.

A number of other large investors also recently added to or reduced their stakes in CSGP. NewSquare Capital LLC boosted its position in shares of CoStar Group by 35.6% during the second quarter. NewSquare Capital LLC now owns 411 shares of the technology company’s stock worth $33,000 after buying an additional 108 shares during the period. Emerald Advisers LLC lifted its stake in CoStar Group by 1.9% during the 2nd quarter. Emerald Advisers LLC now owns 5,763 shares of the technology company’s stock worth $463,000 after acquiring an additional 110 shares in the last quarter. Empirical Finance LLC boosted its holdings in CoStar Group by 1.4% during the 2nd quarter. Empirical Finance LLC now owns 8,376 shares of the technology company’s stock valued at $673,000 after acquiring an additional 114 shares during the period. STF Management LP grew its position in CoStar Group by 2.1% in the 2nd quarter. STF Management LP now owns 6,269 shares of the technology company’s stock valued at $504,000 after acquiring an additional 128 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in CoStar Group by 4.8% during the third quarter. Golden State Wealth Management LLC now owns 3,626 shares of the technology company’s stock worth $306,000 after purchasing an additional 166 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on CSGP shares. Wells Fargo & Company set a $48.00 price target on shares of CoStar Group and gave the stock an “underweight” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of CoStar Group in a report on Monday, December 29th. Jefferies Financial Group raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $68.00 price objective on CoStar Group in a research report on Thursday, January 8th. Finally, Bank of America set a $74.00 target price on CoStar Group in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and three have assigned a Sell 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 $82.18.

CoStar Group Stock Up 0.3%

CoStar Group stock opened at $49.07 on Friday. The stock has a market cap of $20.80 billion, a PE ratio of 981.40, a P/E/G ratio of 1.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 3.12. The stock’s fifty day moving average is $60.61 and its two-hundred day moving average is $72.95. CoStar Group, Inc. has a 1-year low of $43.80 and a 1-year high of $97.43.

CoStar Group announced that its board has authorized a stock buyback plan on Wednesday, January 7th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.