HighTower Advisors LLC Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

HighTower Advisors LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 6.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,544 shares of the technology company’s stock after purchasing an additional 2,292 shares during the quarter. HighTower Advisors LLC’s holdings in CoStar Group were worth $3,052,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Prudential PLC boosted its position in shares of CoStar Group by 149.3% during the fourth quarter. Prudential PLC now owns 19,079 shares of the technology company’s stock valued at $1,474,000 after buying an additional 11,427 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of CoStar Group by 78.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,682 shares of the technology company’s stock valued at $1,057,000 after acquiring an additional 6,015 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $97,000. UBS Group AG raised its stake in shares of CoStar Group by 190.6% during the fourth quarter. UBS Group AG now owns 524,772 shares of the technology company’s stock valued at $40,554,000 after acquiring an additional 344,165 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $340,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSGP shares. Truist Financial decreased their price target on shares of CoStar Group from $95.00 to $85.00 in a research note on Wednesday, February 22nd. BMO Capital Markets decreased their price target on shares of CoStar Group from $84.00 to $68.00 and set a “market perform” rating for the company in a research note on Wednesday, February 22nd. The Goldman Sachs Group decreased their price target on shares of CoStar Group from $102.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. StockNews.com assumed coverage on shares of CoStar Group in a research note on Thursday. They issued a “hold” rating for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, February 22nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.08.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.50 on Monday. The business’s fifty day simple moving average is $70.84 and its 200-day simple moving average is $75.36. The company has a market cap of $32.07 billion, a PE ratio of 86.26, a PEG ratio of 3.68 and a beta of 0.88. The company has a current ratio of 13.21, a quick ratio of 13.21 and a debt-to-equity ratio of 0.14. CoStar Group, Inc. has a 12-month low of $54.02 and a 12-month high of $85.37.

CoStar Group (NASDAQ:CSGP – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $573.35 million for the quarter, compared to the consensus estimate of $567.96 million. CoStar Group had a return on equity of 6.73% and a net margin of 16.32%. Analysts expect that CoStar Group, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,600 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $70.36, for a total transaction of $394,016.00. Following the sale, the insider now directly owns 44,846 shares of the company’s stock, valued at $3,155,364.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.42% of the company’s stock.

About CoStar Group

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CoStar Group, Inc engages in providing online real estate marketplaces, information, and analytics in the commercial and residential property markets. It operates through the North America and International geographical segments. The North America segment includes the Unites States and Canada. The International refers to Europe, Asia-Pacific, and Latin America.