abrdn plc Acquires 69,744 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

abrdn plc lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 69.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 169,683 shares of the technology company’s stock after purchasing an additional 69,744 shares during the quarter. abrdn plc’s holdings in CoStar Group were worth $14,829,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. CWM LLC increased its position in shares of CoStar Group by 8.7% in the third quarter. CWM LLC now owns 4,735 shares of the technology company’s stock worth $364,000 after purchasing an additional 377 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of CoStar Group by 13.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 69,520 shares of the technology company’s stock worth $5,345,000 after acquiring an additional 8,365 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of CoStar Group by 80.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 13,453 shares of the technology company’s stock worth $1,034,000 after acquiring an additional 5,997 shares in the last quarter. Oak Thistle LLC bought a new position in CoStar Group in the third quarter valued at approximately $1,019,000. Finally, Czech National Bank raised its position in CoStar Group by 47.6% during the third quarter. Czech National Bank now owns 71,369 shares of the technology company’s stock valued at $5,488,000 after purchasing an additional 23,007 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Up 8.7 %

Shares of CSGP opened at $91.95 on Thursday. The stock’s 50-day moving average price is $89.40 and its two-hundred day moving average price is $84.64. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The company has a market capitalization of $37.55 billion, a PE ratio of 125.96, a PEG ratio of 9.73 and a beta of 0.84. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.97% and a net margin of 11.64%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. On average, analysts anticipate that CoStar Group, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CSGP shares. BMO Capital Markets raised their target price on CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a report on Friday, April 19th. The Goldman Sachs Group lifted their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Needham & Company LLC increased their target price on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a report on Wednesday. Finally, Royal Bank of Canada increased their price objective on shares of CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $102.15.

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.