No Street GP LP Acquires New Position in CoStar Group, Inc. (NASDAQ:CSGP)

No Street GP LP acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 355,000 shares of the technology company's stock, valued at approximately $25,414,000. CoStar Group makes up about 1.7% of No Street GP LP's portfolio, making the stock its 21st largest holding. No Street GP LP owned approximately 0.09% of CoStar Group at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position 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 acquiring an additional 5,940 shares in the last quarter. Allworth Financial LP lifted its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares during the last quarter. Barclays PLC boosted its holdings in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. Krilogy Financial LLC increased its stake in CoStar Group by 54.9% in the fourth quarter. Krilogy Financial LLC now owns 23,662 shares of the technology company's stock valued at $1,694,000 after purchasing an additional 8,387 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised 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 worth $13,874,000 after purchasing an additional 20,977 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Performance

CoStar Group stock traded up $0.94 during midday trading on Friday, hitting $76.99. 2,618,802 shares of the company's stock were exchanged, compared to its average volume of 2,873,005. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $88.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market cap of $32.48 billion, a price-to-earnings ratio of 219.97 and a beta of 0.89. The firm's 50 day simple moving average is $78.03 and its 200 day simple moving average is $76.23.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. Equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock buyback program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.09% of the company's stock.

Analyst Ratings Changes

CSGP has been the subject of several research analyst reports. JMP Securities restated a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research report on Thursday, April 17th. Wells Fargo & Company increased their target price on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

CoStar Group 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.