Woodline Partners LP Acquires Shares of 24,620 CoStar Group, Inc. (NASDAQ:CSGP)

Woodline Partners LP acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 24,620 shares of the technology company's stock, valued at approximately $1,763,000.

Other large investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after buying an additional 5,940 shares in the last quarter. Allworth Financial LP grew its stake in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after purchasing an additional 173 shares during the period. Barclays PLC grew its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. Foster Victor Wealth Advisors LLC grew its stake in shares of CoStar Group by 12.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company's stock valued at $13,874,000 after purchasing an additional 20,977 shares during the period. Finally, Vantage Investment Partners LLC grew its stake in shares of CoStar Group by 21.6% during the 4th quarter. Vantage Investment Partners LLC now owns 614,014 shares of the technology company's stock valued at $43,957,000 after purchasing an additional 108,998 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada restated a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a research note on Thursday, April 17th. Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price target for the company. Finally, Stephens restated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of "Moderate Buy" and an average target price of $87.54.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.09% of the stock is currently owned by corporate insiders.

CoStar Group Price Performance

CSGP stock traded down $1.58 during midday trading on Friday, hitting $72.49. The company's stock had a trading volume of 623,310 shares, compared to its average volume of 2,893,842. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $83.68. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.58 billion, a price-to-earnings ratio of 207.02 and a beta of 0.89. The company has a 50 day moving average of $77.34 and a two-hundred day moving average of $76.23.

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 outstanding shares. This buyback authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors 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.