Foster Victor Wealth Advisors LLC Purchases 8,519 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Foster Victor Wealth Advisors LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,388 shares of the technology company's stock after buying an additional 8,519 shares during the quarter. CoStar Group makes up approximately 1.2% of Foster Victor Wealth Advisors LLC's portfolio, making the stock its 26th biggest holding. Foster Victor Wealth Advisors LLC's holdings in CoStar Group were worth $15,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $30,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $40,000. Finally, Private Trust Co. NA raised its stake in shares of 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 acquiring an additional 572 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating for the company. Bank of America began coverage on CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price for the company. Stephens began coverage on shares of CoStar Group in a research note on Monday. They issued an "overweight" rating and a $105.00 target price on the stock. William Blair began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating on the stock. Finally, Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.69.

CoStar Group Stock Up 1.4%

Shares of NASDAQ:CSGP traded up $1.13 during midday trading on Monday, reaching $82.29. The company's stock had a trading volume of 519,167 shares, compared to its average volume of 2,915,881. The firm has a 50 day moving average of $77.42 and a 200-day moving average of $76.32. The firm has a market capitalization of $34.72 billion, a P/E ratio of 235.07 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. 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 share buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors 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.