CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Vulcan Value Partners LLC

Vulcan Value Partners LLC increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 15.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,099,438 shares of the technology company’s stock after buying an additional 669,549 shares during the quarter. CoStar Group comprises 6.1% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Vulcan Value Partners LLC’s holdings in CoStar Group were worth $364,963,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of CoStar Group in the 4th quarter valued at $1,589,000. Three Seasons Wealth LLC purchased a new position in CoStar Group during the 4th quarter worth $224,000. Nebula Research & Development LLC increased its stake in CoStar Group by 30.4% in the fourth quarter. Nebula Research & Development LLC now owns 20,171 shares of the technology company’s stock valued at $1,444,000 after purchasing an additional 4,699 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of CoStar Group in the fourth quarter valued at about $312,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of CoStar Group by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock worth $459,314,000 after buying an additional 1,267,263 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Down 0.5 %

Shares of CSGP opened at $82.82 on Friday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $93.29. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $33.97 billion, a P/E ratio of 236.63 and a beta of 0.88. The firm’s 50-day moving average is $78.20 and its two-hundred day moving average is $76.16.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for 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 predict 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 share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSGP. Keefe, Bruyette & Woods dropped their price target 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. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating on the stock. Citigroup decreased 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. JPMorgan Chase & Co. dropped their price objective 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. Finally, StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.54.

Insider Activity

In other 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 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. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.57% of the company’s stock.

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.