10,808 Shares in CoStar Group, Inc. $CSGP Bought by CenterBook Partners LP

CenterBook Partners LP bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,808 shares of the technology company’s stock, valued at approximately $912,000.

A number of other large investors also recently modified their holdings of CSGP. Integrated Wealth Concepts LLC raised its stake in CoStar Group by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 4,789 shares of the technology company’s stock worth $379,000 after acquiring an additional 426 shares during the period. NewEdge Advisors LLC grew its holdings in shares of CoStar Group by 727.5% during the first quarter. NewEdge Advisors LLC now owns 1,473 shares of the technology company’s stock valued at $117,000 after purchasing an additional 1,295 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of CoStar Group by 860.7% during the first quarter. Jones Financial Companies Lllp now owns 12,691 shares of the technology company’s stock valued at $1,006,000 after purchasing an additional 11,370 shares during the last quarter. Empowered Funds LLC raised its position in shares of CoStar Group by 9.2% during the 1st quarter. Empowered Funds LLC now owns 7,941 shares of the technology company’s stock worth $629,000 after purchasing an additional 666 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of CoStar Group by 44.6% in the 1st quarter. Woodline Partners LP now owns 35,604 shares of the technology company’s stock worth $2,821,000 after purchasing an additional 10,984 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent research reports. BMO Capital Markets lowered their price objective on CoStar Group from $77.00 to $72.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Wells Fargo & Company set a $48.00 target price on CoStar Group and gave the company an “underweight” rating in a research note on Wednesday, February 4th. Bank of America set a $74.00 price target on shares of CoStar Group in a research report on Wednesday, January 7th. Jefferies Financial Group raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Friday. Finally, BNP Paribas Exane began coverage on shares of CoStar Group in a research note on Wednesday, January 14th. They set a “neutral” rating and a $64.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.18.

CoStar Group Price Performance

Shares of CSGP opened at $49.87 on Friday. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 997.40, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.12 and a current ratio of 3.12. CoStar Group, Inc. has a one year low of $43.80 and a one year high of $97.43. The stock’s fifty day moving average is $60.24 and its 200-day moving average is $72.62.

CoStar Group declared that its board has initiated a stock repurchase plan on Wednesday, January 7th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.