Crestline Management LP Buys Shares of 38,086 CoStar Group, Inc. (NASDAQ:CSGP)

Crestline Management LP purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 38,086 shares of the technology company's stock, valued at approximately $2,727,000.

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

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $75.34 on Thursday. The business has a 50-day simple moving average of $78.27 and a 200-day simple moving average of $76.18. The company has a market cap of $31.77 billion, a PE ratio of 215.25 and a beta of 0.89. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $92.18. 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 announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding 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 typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction on 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 owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on CSGP shares. JMP Securities reissued a "market outperform" rating and set a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Piper Sandler started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating on the stock. Needham & Company LLC lifted their target price on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and an average 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.

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