Landmark Investment Partners L.P. Purchases Shares of 37,719 CoStar Group, Inc. (NASDAQ:CSGP)

Landmark Investment Partners L.P. acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 37,719 shares of the technology company's stock, valued at approximately $2,700,000. CoStar Group comprises about 1.1% of Landmark Investment Partners L.P.'s holdings, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in shares of CoStar Group in the fourth quarter worth about $25,000. ORG Partners LLC raised its stake in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group during the 4th quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 29,456 shares of the company's stock, 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 available through the SEC website. 1.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSGP. Piper Sandler began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating for the company. The Goldman Sachs Group began coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. Citigroup lowered their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Finally, JMP Securities reissued a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a report on Wednesday. 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's stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.31.

CoStar Group Stock Up 1.8 %

Shares of CoStar Group stock traded up $1.38 during midday trading on Friday, hitting $77.96. The company's stock had a trading volume of 3,252,894 shares, compared to its average volume of 2,815,875. The stock has a 50-day simple moving average of $78.27 and a 200-day simple moving average of $76.24. The firm has a market capitalization of $31.97 billion, a P/E ratio of 222.74 and a beta of 0.88. 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, Inc. has a 1-year low of $68.26 and a 1-year high of $92.74.

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 for the quarter, meeting the consensus estimate 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 return on equity of 3.11% and a net margin of 5.07%. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is 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.