ShawSpring Partners LLC Purchases Shares of 909,803 CoStar Group, Inc. (NASDAQ:CSGP)

ShawSpring Partners LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 909,803 shares of the technology company's stock, valued at approximately $65,133,000. CoStar Group makes up approximately 8.6% of ShawSpring Partners LLC's holdings, making the stock its 6th biggest holding. ShawSpring Partners LLC owned 0.22% of CoStar Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. Hopwood Financial Services Inc. purchased a new stake in shares of CoStar Group during the fourth quarter worth $25,000. ORG Partners LLC increased its position in 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 purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group during the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CoStar Group in the 4th quarter valued at approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after buying an additional 402 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSGP has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Needham & Company LLC dropped their price target on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Stephens reaffirmed an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group started coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.54.

CoStar Group Trading Up 0.9 %

Shares of NASDAQ CSGP traded up $0.68 during midday trading on Friday, reaching $79.70. 2,033,905 shares of the stock were exchanged, compared to its average volume of 2,747,212. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $93.94. The business has a 50-day simple moving average of $77.48 and a two-hundred day simple moving average of $75.92. The company has a market capitalization of $32.69 billion, a price-to-earnings ratio of 227.71 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly 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. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication 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 dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.57% of the company's stock.

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.