Tidal Investments LLC Acquires 4,843 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Tidal Investments LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,027 shares of the technology company's stock after acquiring an additional 4,843 shares during the quarter. Tidal Investments LLC's holdings in CoStar Group were worth $5,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Polen Capital Management LLC bought a new stake in CoStar Group in the fourth quarter worth about $465,134,000. Norges Bank acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $390,755,000. Capital International Investors raised its holdings in shares of CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in CoStar Group by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock valued at $459,314,000 after purchasing an additional 1,267,263 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock valued at $80,847,000 after purchasing an additional 1,079,815 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent research reports. Piper Sandler began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. The Goldman Sachs Group started coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. Wells Fargo & Company boosted their target price on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The shares were 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 owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.09% of the stock is owned by insiders.

CoStar Group Stock Down 0.2%

NASDAQ CSGP traded down $0.15 during trading on Monday, reaching $73.99. 1,900,360 shares of the company's stock were exchanged, compared to its average volume of 2,906,784. 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, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $85.78. The company's fifty day simple moving average is $77.74 and its 200-day simple moving average is $76.29. The firm has a market capitalization of $31.22 billion, a PE ratio of 211.40 and a beta of 0.89.

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

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.