Azzad Asset Management Inc. ADV Acquires 3,213 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Azzad Asset Management Inc. ADV lifted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,977 shares of the technology company's stock after acquiring an additional 3,213 shares during the quarter. CoStar Group accounts for approximately 1.0% of Azzad Asset Management Inc. ADV's holdings, making the stock its 9th largest position. Azzad Asset Management Inc. ADV's holdings in CoStar Group were worth $8,713,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in CoStar Group by 497.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock valued at $511,000 after purchasing an additional 5,940 shares during the period. Allworth Financial LP raised its stake in 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 acquiring an additional 173 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in CoStar Group by 6.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 482,712 shares of the technology company's stock valued at $34,190,000 after acquiring an additional 31,152 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock valued at $557,000 after acquiring an additional 176 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in CoStar Group during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSGP shares. Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating on the stock. Needham & Company LLC lifted their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. JMP Securities restated a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods upped their price objective on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, CoStar Group has an average rating of "Moderate Buy" and an average price target of $87.54.

CoStar Group Stock Down 1.5%

NASDAQ:CSGP traded down $1.21 during trading hours on Friday, hitting $81.16. 2,666,725 shares of the company's stock traded hands, compared to its average volume of 2,925,334. The firm has a market cap of $34.24 billion, a P/E ratio of 231.89 and a beta of 0.87. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock's fifty day moving average price is $77.42 and its two-hundred day moving average price is $76.36.

CoStar Group declared that its board has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.