CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by FWG Holdings LLC

FWG Holdings LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,431 shares of the technology company’s stock after acquiring an additional 219 shares during the quarter. FWG Holdings LLC’s holdings in CoStar Group were worth $494,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. Geode Capital Management LLC lifted its position in CoStar Group by 2.1% in the third 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 period. 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 in the last quarter. Amundi increased its position in shares of CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after purchasing an additional 650,454 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% in the 3rd 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 in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $79.39 on Monday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. 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 stock has a market cap of $32.56 billion, a PE ratio of 226.83 and a beta of 0.93. The business has a fifty day simple moving average of $74.73 and a 200-day simple moving average of $75.63.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.07.

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.