6,497,188 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Purchased by Polen Capital Management LLC

Polen Capital Management LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,497,188 shares of the technology company's stock, valued at approximately $465,134,000. CoStar Group accounts for 1.3% of Polen Capital Management LLC's portfolio, making the stock its 23rd largest holding. Polen Capital Management LLC owned approximately 1.58% of CoStar Group at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Moran Wealth Management LLC grew its position in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company's stock worth $606,000 after acquiring an additional 161 shares during the period. Allworth Financial LP grew its position in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after acquiring an additional 173 shares during the period. Atria Wealth Solutions Inc. grew its position in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after acquiring an additional 176 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company's stock worth $1,443,000 after buying an additional 209 shares during the period. Finally, FWG Holdings LLC boosted its position in shares of CoStar Group by 3.5% during the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock worth $494,000 after buying an additional 219 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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CoStar Group Stock Down 0.5 %

CoStar Group stock traded down $0.38 during midday trading on Thursday, reaching $79.02. The company's stock had a trading volume of 2,167,934 shares, compared to its average volume of 2,532,880. The business has a 50-day simple moving average of $75.82 and a 200-day simple moving average of $75.71. 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 fifty-two week low of $68.26 and a fifty-two week high of $97.91. The company has a market cap of $32.41 billion, a P/E ratio of 225.77 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting 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, research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has initiated a share buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at CoStar Group

In related 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC lowered their price target on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Craig Hallum initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. JMP Securities reiterated a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. Finally, Stephens reiterated an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

CoStar Group 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.