Arrowstreet Capital Limited Partnership Acquires 13,299 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 117.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,577 shares of the technology company's stock after acquiring an additional 13,299 shares during the period. Arrowstreet Capital Limited Partnership's holdings in CoStar Group were worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CSGP. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group in the 4th quarter worth approximately $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the 4th quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock valued at $37,000 after purchasing an additional 513 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several analyst reports. William Blair began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating for the company. Craig Hallum initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. Piper Sandler started coverage on shares of CoStar Group in a report on Friday, February 28th. They set an "overweight" rating for the company. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Finally, Needham & Company LLC cut their price objective on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.54.

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CoStar Group Price Performance

CSGP stock traded down $0.94 during trading on Wednesday, reaching $79.57. The company's stock had a trading volume of 96,971 shares, compared to its average volume of 2,727,434. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company's fifty day moving average is $77.32 and its 200-day moving average is $75.83. The company has a market capitalization of $32.63 billion, a P/E ratio of 226.94 and a beta of 0.88. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's 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 sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is owned by company insiders.

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.