463,350 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Acquired by ThornTree Capital Partners LP

ThornTree Capital Partners LP purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 463,350 shares of the technology company's stock, valued at approximately $33,171,000. CoStar Group accounts for about 4.3% of ThornTree Capital Partners LP's investment portfolio, making the stock its 8th biggest holding. ThornTree Capital Partners LP owned 0.11% of CoStar Group at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CSGP. Steward Partners Investment Advisory LLC raised its stake in shares of CoStar Group by 497.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after buying an additional 5,940 shares during the period. Allworth Financial LP grew its stake in CoStar Group by 9.7% in the 4th 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. Barclays PLC increased its holdings in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. Krilogy Financial LLC raised its position in CoStar Group by 54.9% during the fourth quarter. Krilogy Financial LLC now owns 23,662 shares of the technology company's stock worth $1,694,000 after acquiring an additional 8,387 shares during the period. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in CoStar Group by 12.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 187,869 shares of the technology company's stock valued at $13,874,000 after purchasing an additional 20,977 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Down 0.7%

Shares of CoStar Group stock traded down $0.54 during trading hours on Tuesday, hitting $76.37. The company's stock had a trading volume of 3,421,243 shares, compared to its average volume of 2,885,813. The stock has a market cap of $32.22 billion, a price-to-earnings ratio of 218.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $87.86. The firm has a fifty day moving average of $78.05 and a 200-day moving average of $76.30.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.09% of the company's stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research reports. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a report on Thursday, April 17th. Stephens reissued an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Keefe, Bruyette & Woods raised their target price on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and an average price target of $88.31.

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.