Rafferty Asset Management LLC Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Rafferty Asset Management LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,842 shares of the technology company's stock after buying an additional 23,895 shares during the period. Rafferty Asset Management LLC owned approximately 0.06% of CoStar Group worth $16,741,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CSGP. Colonial Trust Co SC increased its position in shares of CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP grew its position in CoStar Group by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock valued at $2,105,000 after buying an additional 146 shares during the period. Allworth Financial LP increased its holdings in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after buying an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after acquiring an additional 176 shares during the period. Finally, Moran Wealth Management LLC boosted its stake in CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock valued at $588,000 after acquiring an additional 180 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction 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 approximately $2,353,534.40. The trade was a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.09% of the company's stock.

CoStar Group Price Performance

NASDAQ:CSGP traded down $0.54 during trading hours on Tuesday, hitting $76.37. The stock had a trading volume of 3,421,743 shares, compared to its average volume of 2,881,078. The company has a 50 day simple moving average of $78.03 and a two-hundred day simple moving average of $76.30. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 218.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $87.86.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted 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 business had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. Research analysts forecast 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 initiated 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC increased their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and a consensus target price 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.