Bayesian Capital Management LP Purchases New Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Bayesian Capital Management LP bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,600 shares of the technology company's stock, valued at approximately $759,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after acquiring an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Craig Hallum started coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. Piper Sandler began coverage on CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price target on the stock. Wells Fargo & Company increased their price target on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Finally, Stephens restated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.31.

CoStar Group Stock Down 1.7 %

Shares of NASDAQ:CSGP traded down $1.29 during trading on Friday, hitting $74.56. 2,300,106 shares of the company were exchanged, compared to its average volume of 2,851,950. 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 stock has a market capitalization of $31.46 billion, a P/E ratio of 213.03 and a beta of 0.89. The firm's 50 day moving average price is $78.26 and its 200-day moving average price is $76.18. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $90.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) 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 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 declared that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by insiders.

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.