Tran Capital Management L.P. Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Tran Capital Management L.P. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 288,760 shares of the technology company's stock, valued at approximately $22,878,000. CoStar Group comprises about 3.1% of Tran Capital Management L.P.'s holdings, making the stock its 14th biggest holding. Tran Capital Management L.P. owned approximately 0.07% of CoStar Group as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC raised its holdings in shares of CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP grew its position in 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 purchasing an additional 146 shares in the last quarter. Aurora Investment Managers LLC. grew its position in CoStar Group by 0.7% in the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock valued at $1,771,000 after purchasing an additional 164 shares in the last quarter. Allworth Financial LP increased 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 buying an additional 173 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after buying an additional 176 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CSGP shares. William Blair began coverage on CoStar Group in a report on Friday, February 28th. They issued a "market perform" rating for the company. Piper Sandler began coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating for the company. Citigroup lowered their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating and a $89.00 price objective on the stock. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $87.54.

CoStar Group Stock Performance

Shares of CSGP traded down $1.53 during midday trading on Friday, reaching $80.84. 1,319,376 shares of the stock were exchanged, compared to its average volume of 2,918,731. The stock's 50 day simple moving average is $77.27 and its 200 day simple moving average is $76.39. The company has a market cap of $34.10 billion, a P/E ratio of 231.08 and a beta of 0.87. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68. 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 declared that its Board of Directors has authorized a stock buyback plan 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 plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.