Visualize Group LP Invests $15.78 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Visualize Group LP purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 220,391 shares of the technology company's stock, valued at approximately $15,778,000. CoStar Group accounts for approximately 10.0% of Visualize Group LP's investment portfolio, making the stock its 4th largest position. Visualize Group LP owned 0.05% of CoStar Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Polen Capital Management LLC bought a new position in shares of CoStar Group during the 4th quarter valued at about $465,134,000. Norges Bank purchased a new stake in shares of CoStar Group in the fourth quarter worth approximately $390,755,000. Capital International Investors boosted its stake in shares of CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after buying an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in CoStar Group by 24.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock valued at $459,314,000 after purchasing an additional 1,267,263 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock valued at $80,847,000 after acquiring an additional 1,079,815 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

CSGP traded up $0.14 during trading on Wednesday, reaching $74.73. 656,575 shares of the company traded hands, compared to its average volume of 2,821,214. The firm has a fifty day simple moving average of $78.29 and a 200 day simple moving average of $76.19. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $92.74. The company has a market cap of $31.52 billion, a P/E ratio of 213.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to analyst estimates 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 forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSGP. Wells Fargo & Company raised their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, February 19th. JMP Securities restated a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. Finally, Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.31.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction 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 directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.57% 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.