Bayesian Capital Management LP Invests $759,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Bayesian Capital Management LP bought a new position in shares of 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 institutional investor bought 10,600 shares of the technology company's stock, valued at approximately $759,000.

Several other large investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in shares of CoStar Group by 31.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,749,116 shares of the technology company's stock worth $196,832,000 after purchasing an additional 665,483 shares in the last quarter. Visualize Group LP bought a new stake in CoStar Group during the fourth quarter worth $15,778,000. DoubleLine ETF Adviser LP lifted its stake in CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock valued at $2,105,000 after acquiring an additional 146 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of CoStar Group by 84.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,448 shares of the technology company's stock valued at $1,249,000 after acquiring an additional 7,963 shares during the period. Finally, Keel Point LLC acquired a new position in shares of CoStar Group during the 4th quarter worth about $211,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSGP. Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Citigroup decreased their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. William Blair began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating on the stock. Finally, Piper Sandler assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They set an "overweight" rating for the company. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.31.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.57% of the company's stock.

CoStar Group Trading Down 1.1 %

Shares of CSGP stock opened at $77.10 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $92.74. The company has a market cap of $32.52 billion, a PE ratio of 220.29 and a beta of 0.89. The stock's fifty day moving average price is $78.28 and its two-hundred day moving average price is $76.20.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 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 firm had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.