Schonfeld Strategic Advisors LLC Acquires 143,542 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Schonfeld Strategic Advisors LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1,451.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,429 shares of the technology company's stock after purchasing an additional 143,542 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in CoStar Group were worth $10,984,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CSGP. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group during the fourth quarter worth $25,000. ORG Partners LLC boosted its position in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group in the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew 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 valued at $36,000 after purchasing an additional 402 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSGP shares. 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. JMP Securities restated a "market outperform" rating and set a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, April 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research report on Thursday, April 17th. Stephens restated an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Citigroup lowered their target price on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.31.

CoStar Group Stock Down 2.0 %

Shares of NASDAQ:CSGP traded down $1.54 on Tuesday, reaching $75.56. The company had a trading volume of 679,942 shares, compared to its average volume of 2,815,470. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $92.74. The stock has a 50-day moving average price of $78.28 and a 200 day moving average price of $76.20. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $31.87 billion, a P/E ratio of 216.07 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, equities analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.57% of the company's stock.

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.