Postrock Partners LLC Makes New $819,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Postrock Partners LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, Holdings Channel reports. The fund purchased 11,440 shares of the technology company’s stock, valued at approximately $819,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CoStar Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock valued at $201,758,000 after purchasing an additional 133,876 shares during the period. Amundi increased its position in CoStar Group by 30.1% in the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after buying an additional 650,454 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CoStar Group by 73.8% during 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. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Citigroup reduced their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Finally, Piper Sandler began coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Down 1.8 %

CSGP opened at $75.44 on Friday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market cap of $30.94 billion, a price-to-earnings ratio of 215.54 and a beta of 0.93. The firm’s 50-day simple moving average is $75.19 and its 200-day simple moving average is $75.67. 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) last posted its earnings results 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%. Equities research 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 approved a stock repurchase 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.