Jefferies Financial Group Inc. Buys 63,948 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Jefferies Financial Group Inc. boosted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 187.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,108 shares of the technology company's stock after purchasing an additional 63,948 shares during the period. Jefferies Financial Group Inc.'s holdings in CoStar Group were worth $7,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bamco Inc. NY increased its stake in shares of CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after buying an additional 418,128 shares during the period. Capital International Investors increased its stake in shares of CoStar Group by 44.9% in the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after buying an additional 4,345,267 shares during the period. Geode Capital Management LLC increased its stake in shares of CoStar Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock valued at $819,678,000 after buying an additional 166,769 shares during the period. Akre Capital Management LLC increased its stake in shares of CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after buying an additional 379,787 shares during the period. Finally, Polen Capital Management LLC acquired a new stake in shares of CoStar Group in the fourth quarter valued at about $465,134,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSGP shares. Stephens reissued an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Needham & Company LLC increased their price target on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Thursday, April 17th. Citigroup decreased their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average target price of $87.54.

CoStar Group Stock Down 2.1%

NASDAQ:CSGP traded down $1.57 on Friday, hitting $72.50. The stock had a trading volume of 6,147,177 shares, compared to its average volume of 2,916,908. The business's fifty day moving average is $77.19 and its 200 day moving average is $76.21. The company has a market cap of $30.59 billion, a PE ratio of 207.14 and a beta of 0.89. 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 52 week low of $68.26 and a 52 week high of $83.68.

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

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred 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 represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.