Baer Investment Advisory LLC Invests $3.76 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Baer Investment Advisory LLC bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 52,470 shares of the technology company's stock, valued at approximately $3,756,000. CoStar Group makes up 7.8% of Baer Investment Advisory LLC's investment portfolio, making the stock its largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Toronto Dominion Bank increased its stake in CoStar Group by 64.0% during the fourth quarter. Toronto Dominion Bank now owns 235,397 shares of the technology company's stock worth $16,852,000 after acquiring an additional 91,822 shares during the last quarter. North Star Asset Management Inc. increased its stake in CoStar Group by 4.4% during the fourth quarter. North Star Asset Management Inc. now owns 44,462 shares of the technology company's stock worth $3,183,000 after acquiring an additional 1,879 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in CoStar Group during the fourth quarter worth approximately $5,562,000. Vise Technologies Inc. bought a new position in shares of CoStar Group during the fourth quarter valued at approximately $205,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CoStar Group by 26.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,647,849 shares of the technology company's stock valued at $189,560,000 after buying an additional 551,594 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business'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 sale, the chief accounting officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.09% of the company's stock.

CoStar Group Trading Down 0.3%

CoStar Group stock traded down $0.21 during trading on Thursday, hitting $74.04. The company had a trading volume of 798,991 shares, compared to its average volume of 2,897,599. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $83.68. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company's 50 day simple moving average is $77.46 and its 200-day simple moving average is $76.24. The stock has a market cap of $31.23 billion, a price-to-earnings ratio of 211.39 and a beta of 0.89.

CoStar Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. William Blair assumed coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating for the company. Citigroup lowered their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price for the company. Finally, Needham & Company LLC upped their target price on CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Two investment 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.

About CoStar Group

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.