GF Fund Management CO. LTD. Buys Shares of 77,696 CoStar Group, Inc. (NASDAQ:CSGP)

GF Fund Management CO. LTD. purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,696 shares of the technology company's stock, valued at approximately $5,562,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Colonial Trust Co SC increased its stake in CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after buying an additional 145 shares during the period. DoubleLine ETF Adviser LP boosted its holdings 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 valued at $2,105,000 after acquiring an additional 146 shares in the last quarter. Allworth Financial LP increased its stake in shares of CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after acquiring an additional 173 shares during the period. Atria Wealth Solutions Inc. raised its holdings in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after purchasing an additional 176 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after purchasing an additional 180 shares during the period. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Down 2.3%

Shares of CoStar Group stock traded down $1.68 during trading on Friday, hitting $72.39. The stock had a trading volume of 995,318 shares, compared to its average volume of 2,895,480. 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 $77.34 and a 200 day simple moving average of $76.23. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $30.54 billion, a PE ratio of 206.85 and a beta of 0.89.

CoStar Group announced that its board has initiated a share repurchase program 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 programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSGP. Keefe, Bruyette & Woods lifted their price target on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. Bank of America began coverage on shares of CoStar Group in a research report on Friday. They issued a "neutral" rating and a $79.00 price target on the stock. Citigroup cut their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.54.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly 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 legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.09% of the company's stock.

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.