First Citizens Bank & Trust Co. Has $8.15 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

First Citizens Bank & Trust Co. grew its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1,535.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,846 shares of the technology company's stock after buying an additional 96,557 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in CoStar Group were worth $8,148,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CSGP. Colonial Trust Co SC boosted its position in CoStar Group by 27.4% during the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock worth $48,000 after purchasing an additional 145 shares during the period. DoubleLine ETF Adviser LP lifted its stake in shares of CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock worth $2,105,000 after buying an additional 146 shares during the last quarter. Aurora Investment Managers LLC. lifted its stake in shares of CoStar Group by 0.7% in the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock worth $1,771,000 after buying an additional 164 shares during the last quarter. Allworth Financial LP boosted its holdings 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 worth $144,000 after buying an additional 173 shares during the period. Finally, Atria Wealth Solutions Inc. grew its stake in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock valued at $557,000 after buying an additional 176 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Up 0.4%

Shares of CSGP opened at $78.52 on Monday. 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 stock has a market cap of $33.13 billion, a PE ratio of 224.34 and a beta of 0.87. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $83.68. The stock has a 50 day simple moving average of $76.88 and a 200-day simple moving average of $76.31.

CoStar Group declared that its board has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "market perform" rating for the company. Craig Hallum started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. Wells Fargo & Company raised their target price on CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 19th. Finally, Needham & Company LLC upped 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 equities research 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. According to data from MarketBeat.com, the company currently 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.

Want to see what other hedge funds are holding CSGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.