Douglas Lane & Associates LLC Has $44.11 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Douglas Lane & Associates LLC boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 45.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,751 shares of the technology company's stock after purchasing an additional 173,367 shares during the period. Douglas Lane & Associates LLC owned about 0.14% of CoStar Group worth $44,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the 4th quarter worth approximately $30,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings 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 during the last quarter. Centricity Wealth Management LLC acquired a new position in CoStar Group during the fourth quarter worth $40,000. Finally, Private Trust Co. NA boosted its holdings in CoStar Group by 969.5% during 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 last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.09% of the company's stock.

CoStar Group Price Performance

CoStar Group stock traded up $2.35 during mid-day trading on Thursday, reaching $79.41. 1,710,636 shares of the company were exchanged, compared to its average volume of 2,919,695. The firm has a market cap of $33.50 billion, a PE ratio of 226.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a fifty day simple moving average of $76.91 and a 200-day simple moving average of $76.23. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $83.68.

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

Analysts Set New Price Targets

CSGP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Bank of America began coverage on CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 price target for the company. Citigroup dropped their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. Two investment 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.54.

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.