Aigen Investment Management LP purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,507 shares of the technology company's stock, valued at approximately $323,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CSGP. Barclays PLC increased its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after buying an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. increased its position in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after buying an additional 1,001,177 shares during the last quarter. State Street Corp boosted its holdings in shares of CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the period. Point72 Asset Management L.P. bought a new position in shares of CoStar Group in the third quarter worth $48,768,000. Finally, Icon Wealth Advisors LLC boosted its holdings in shares of CoStar Group by 8,314.1% in the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company's stock worth $30,925,000 after acquiring an additional 405,062 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.
CSGP has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. Needham & Company LLC dropped their price objective on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. William Blair initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating for the company. Finally, Stephens reissued an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.07.
View Our Latest Stock Analysis on CoStar Group
Shares of CSGP stock opened at $79.39 on Friday. 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 business has a 50-day moving average price of $74.73 and a two-hundred day moving average price of $75.63. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market cap of $32.56 billion, a P/E ratio of 226.83 and a beta of 0.93.
CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results 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 return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.
CoStar Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
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.
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