11,440 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Acquired by Postrock Partners LLC

Postrock Partners LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 11,440 shares of the technology company's stock, valued at approximately $819,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter valued at about $40,000. JPMorgan Chase & Co. boosted its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after acquiring an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC boosted its holdings in CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock worth $37,720,000 after acquiring an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company's stock worth $7,812,000 after acquiring an additional 14,468 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new stake in CoStar Group in the third quarter worth about $621,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

CSGP stock traded down $1.79 during trading on Tuesday, hitting $78.36. 2,733,748 shares of the company traded hands, compared to its average volume of 2,547,931. The stock's 50-day simple moving average is $75.50 and its 200 day simple moving average is $75.68. 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 $32.14 billion, a PE ratio of 223.89 and a beta of 0.93. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38.

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CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The business 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, equities 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 approved a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business'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 value of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.57% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating for the company. Citigroup lowered their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

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.