Bridgewater Associates LP Raises Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Bridgewater Associates LP increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 108.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 879,915 shares of the technology company's stock after acquiring an additional 456,842 shares during the quarter. Bridgewater Associates LP owned about 0.21% of CoStar Group worth $62,993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSGP. Canada Post Corp Registered Pension Plan acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $384,000. XTX Topco Ltd purchased a new stake in CoStar Group in the 4th quarter valued at $664,000. Summit Investment Advisors Inc. boosted its stake in CoStar Group by 2.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 17,037 shares of the technology company's stock worth $1,220,000 after purchasing an additional 408 shares during the period. Townsquare Capital LLC grew its position in CoStar Group by 1,571.2% during the 4th quarter. Townsquare Capital LLC now owns 156,408 shares of the technology company's stock worth $11,197,000 after purchasing an additional 147,049 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in CoStar Group during the 4th quarter worth $885,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CSGP shares. Piper Sandler assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. William Blair began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating for the company. Craig Hallum assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods dropped their price target on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. Finally, Citigroup reduced their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus target price of $87.54.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's 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 owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

NASDAQ CSGP traded up $0.68 during trading hours on Friday, reaching $79.70. The company's stock had a trading volume of 2,033,905 shares, compared to its average volume of 2,749,942. The company's 50-day moving average is $77.48 and its two-hundred day moving average is $75.92. The stock has a market cap of $32.69 billion, a PE ratio of 227.71 and a beta of 0.88. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. 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 (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

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.