Strive Asset Management LLC Purchases Shares of 3,709 CoStar Group, Inc. (NASDAQ:CSGP)

Strive Asset Management LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,709 shares of the technology company’s stock, valued at approximately $266,000.

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

Analyst Ratings Changes

A number of research firms recently commented on CSGP. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating on the stock. JMP Securities restated a “market outperform” rating and set a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $88.31.

Insider Buying and Selling

In related 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 transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.09% of the stock is owned by corporate insiders.

CoStar Group Stock Up 1.2%

Shares of NASDAQ CSGP opened at $76.99 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $87.86. The firm’s 50-day moving average price is $78.03 and its 200-day moving average price is $76.25. The stock has a market capitalization of $32.48 billion, a price-to-earnings ratio of 219.97 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting 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%. On average, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.