TFJ Management LLC Purchases Shares of 13,488 CoStar Group, Inc. (NASDAQ:CSGP)

TFJ Management LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,488 shares of the technology company's stock, valued at approximately $966,000. CoStar Group makes up approximately 0.9% of TFJ Management LLC's portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after purchasing an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock valued at $557,000 after buying an additional 176 shares during the last quarter. Moran Wealth Management LLC raised its stake in CoStar Group by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock valued at $588,000 after buying an additional 180 shares during the last quarter. FWG Holdings LLC boosted its holdings in CoStar Group by 3.5% in the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock worth $494,000 after acquiring an additional 219 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of CoStar Group by 5.2% in the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock worth $317,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.57% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CSGP. StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Craig Hallum started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.54.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $1.39 during midday trading on Thursday, hitting $83.22. The company had a trading volume of 2,308,397 shares, compared to its average volume of 2,748,405. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $93.94. 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 $34.13 billion, a price-to-earnings ratio of 237.77 and a beta of 0.88. The company has a fifty day moving average of $77.87 and a two-hundred day moving average of $76.04.

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

CoStar Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.