Crestline Management LP Takes $2.73 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Crestline Management LP acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,086 shares of the technology company's stock, valued at approximately $2,727,000.

Several other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the fourth quarter valued at about $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group during the 4th quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CoStar Group

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

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded up $0.11 during mid-day trading on Tuesday, hitting $75.49. The company had a trading volume of 935,512 shares, compared to its average volume of 2,847,893. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $90.93. 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 cap of $31.85 billion, a price-to-earnings ratio of 215.69 and a beta of 0.89. The firm's 50 day simple moving average is $78.21 and its two-hundred day simple moving average is $76.20.

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, meeting 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 for 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 declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Craig Hallum assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. William Blair started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating for the company. StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Finally, Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.31.

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.