Citizens Financial Group Inc. RI Makes New $286,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Citizens Financial Group Inc. RI purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,989 shares of the technology company's stock, valued at approximately $286,000.

Several other large investors have also recently added to or reduced their stakes in CSGP. ORG Partners LLC lifted its position in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in CoStar Group in the fourth quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group during the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock worth $37,000 after acquiring an additional 513 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the 3rd quarter worth about $40,000. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSGP has been the subject of several recent analyst reports. Needham & Company LLC decreased 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 report on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 28th. Citigroup reduced their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They set an "overweight" rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction 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. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.57% of the company's stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded up $1.42 on Monday, reaching $80.15. 4,154,824 shares of the company traded hands, compared to its average volume of 3,359,400. 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 stock has a market capitalization of $32.87 billion, a PE ratio of 229.00 and a beta of 0.93. The company's 50 day moving average is $75.32 and its 200-day moving average is $75.66. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, analysts anticipate 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 stock buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

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.