CoStar Group, Inc. (NASDAQ:CSGP) Stock Holdings Lifted by Vulcan Value Partners LLC

Vulcan Value Partners LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,099,438 shares of the technology company’s stock after purchasing an additional 669,549 shares during the period. CoStar Group accounts for about 6.1% of Vulcan Value Partners LLC’s portfolio, making the stock its 5th largest holding. Vulcan Value Partners LLC owned approximately 1.24% of CoStar Group worth $364,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of CoStar Group by 497.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock valued at $511,000 after buying an additional 5,940 shares during the period. Allworth Financial LP lifted its holdings in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares during the last quarter. Douglas Lane & Associates LLC purchased a new position in CoStar Group in the fourth quarter worth approximately $27,446,000. Finally, Barclays PLC grew its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after acquiring an additional 1,073,793 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $82.82 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market cap of $33.97 billion, a price-to-earnings ratio of 236.63 and a beta of 0.88. The stock’s 50-day moving average is $78.20 and its two-hundred day moving average is $76.16. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $93.29.

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

CoStar Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CSGP shares. JPMorgan Chase & Co. lowered their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Needham & Company LLC lowered their target price 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. Craig Hallum assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Thursday, April 17th. Finally, Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.54.

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.