CoStar Group, Inc. (NASDAQ:CSGP) is Spyglass Capital Management LLC's 6th Largest Position

Spyglass Capital Management LLC lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,221,607 shares of the technology company's stock after acquiring an additional 392,603 shares during the period. CoStar Group accounts for 4.9% of Spyglass Capital Management LLC's portfolio, making the stock its 6th largest position. Spyglass Capital Management LLC owned 0.30% of CoStar Group worth $87,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the 4th quarter valued at $32,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after acquiring an additional 402 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock worth $37,000 after acquiring an additional 513 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 of the company's stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.09% of the stock is currently owned by company insiders.

CoStar Group Stock Up 0.2%

NASDAQ:CSGP traded up $0.18 during midday trading on Thursday, reaching $74.14. The company had a trading volume of 2,980,754 shares, compared to its average volume of 2,898,947. The firm has a market capitalization of $31.28 billion, a price-to-earnings ratio of 211.83 and a beta of 0.89. The stock's fifty day simple moving average is $77.95 and its 200-day simple moving average is $76.29. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $87.27. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

CSGP has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Craig Hallum assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. Citigroup decreased their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Piper Sandler began coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating on the stock. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $83.00 price objective on shares of CoStar Group in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average price target of $88.31.

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.