Voloridge Investment Management LLC Purchases Shares of 33,549 CoStar Group, Inc. (NASDAQ:CSGP)

Voloridge Investment Management LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,549 shares of the technology company's stock, valued at approximately $2,402,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the 4th quarter worth $25,000. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the fourth quarter valued at about $30,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after purchasing an additional 402 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in CoStar Group in the fourth quarter valued at about $40,000. Finally, Private Trust Co. NA boosted its holdings in CoStar Group by 969.5% in the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company's stock valued at $45,000 after purchasing an additional 572 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Performance

Shares of CSGP stock traded down $1.57 during trading hours on Friday, reaching $72.50. The stock had a trading volume of 6,147,177 shares, compared to its average volume of 2,917,133. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68. The firm has a 50-day simple moving average of $77.19 and a 200-day simple moving average of $76.21. The firm has a market capitalization of $30.59 billion, a PE ratio of 207.14 and a beta of 0.89.

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. The Goldman Sachs Group started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. Needham & Company LLC upped their price target on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Bank of America initiated coverage on shares of CoStar Group in a research note on Friday. They issued a "neutral" rating and a $79.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their target price on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, CoStar Group has an average rating of "Moderate Buy" and a consensus price target of $87.54.

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 that occurred on Monday, March 10th. The shares were 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. The trade was a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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.