CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 680,585 shares of the technology company's stock after purchasing an additional 5,774 shares during the quarter. California State Teachers Retirement System owned 0.17% of CoStar Group worth $48,723,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in CoStar Group in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter worth $30,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of 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 in the last quarter. Centricity Wealth Management LLC bought a new position in CoStar Group in the fourth quarter worth $40,000. Finally, Private Trust Co. NA lifted its position in CoStar Group by 969.5% in the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company's stock worth $45,000 after purchasing an additional 572 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.09% of the stock is owned by insiders.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded down $1.57 during midday trading on Friday, hitting $72.50. 6,147,177 shares of the stock traded hands, compared to its average volume of 2,916,908. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $83.68. The firm has a 50-day moving average of $77.19 and a two-hundred day moving average of $76.21. The firm has a market capitalization of $30.59 billion, a P/E ratio of 207.14 and a beta of 0.89. 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 announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSGP. JPMorgan Chase & Co. cut their price target 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. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 price objective for the company. Stephens restated an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. Finally, Needham & Company LLC lifted their price target on CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.54.

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.