Centiva Capital LP Makes New $770,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Centiva Capital LP purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,762 shares of the technology company's stock, valued at approximately $770,000.

Several other institutional investors and hedge funds have also bought and sold shares of CSGP. Polen Capital Management LLC purchased a new position in shares of CoStar Group in the 4th quarter valued at approximately $465,134,000. Norges Bank purchased a new position in CoStar Group during the fourth quarter valued at $390,755,000. Capital International Investors raised its stake in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after buying an additional 4,345,267 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in 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 valued at $459,314,000 after buying an additional 1,267,263 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of CoStar Group by 2,181.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock worth $80,847,000 after purchasing an additional 1,079,815 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 completion of the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is owned by company insiders.

CoStar Group Stock Up 0.8%

NASDAQ CSGP traded up $0.58 during midday trading on Wednesday, hitting $75.76. 693,466 shares of the company traded hands, compared to its average volume of 3,361,948. 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 $31.96 billion, a PE ratio of 216.46 and a beta of 0.89. The company's 50-day simple moving average is $78.17 and its 200-day simple moving average is $76.19. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $89.33.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $703.00 million. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has approved a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their price target on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Piper Sandler began coverage on CoStar Group in a report on Friday, February 28th. They set an "overweight" rating for the company. Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. Finally, Needham & Company LLC boosted their price target on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

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.