No Street GP LP Makes New $25.41 Million Investment in CoStar Group, Inc. (NASDAQ:CSGP)

No Street GP LP purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 355,000 shares of the technology company’s stock, valued at approximately $25,414,000. CoStar Group makes up approximately 1.7% of No Street GP LP’s portfolio, making the stock its 21st biggest holding.

Several other large investors also recently modified their holdings of CSGP. Colonial Trust Co SC grew its position in shares of CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after purchasing an additional 145 shares during the period. DoubleLine ETF Adviser LP lifted its stake in CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock valued at $2,105,000 after buying an additional 146 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in shares of CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares during the period. Finally, Moran Wealth Management LLC increased its position in shares of CoStar Group by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock worth $588,000 after acquiring an additional 180 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup cut their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Thursday, April 17th. Finally, William Blair initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.31.

CoStar Group Stock Performance

Shares of CSGP opened at $75.18 on Wednesday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $89.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market cap of $31.72 billion, a PE ratio of 214.80 and a beta of 0.89. The firm has a 50-day moving average of $78.17 and a 200-day moving average of $76.19.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is 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.