Narwhal Capital Management Invests $3.70 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Narwhal Capital Management purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 51,725 shares of the technology company’s stock, valued at approximately $3,703,000.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in CoStar Group in the second quarter valued at $104,000. APG Asset Management N.V. grew its stake in CoStar Group by 187.8% in the 2nd quarter. APG Asset Management N.V. now owns 46,129 shares of the technology company’s stock valued at $3,191,000 after acquiring an additional 30,100 shares during the last quarter. MBB Public Markets I LLC purchased a new position in CoStar Group during the 2nd quarter valued at about $2,063,000. Susquehanna Fundamental Investments LLC acquired a new position in CoStar Group during the second quarter worth about $2,513,000. Finally, Ascent Group LLC increased its stake in shares of CoStar Group by 7.9% during the 2nd quarter. Ascent Group LLC now owns 6,697 shares of the technology company’s stock worth $497,000 after purchasing an additional 490 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

NASDAQ CSGP opened at $74.16 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market capitalization of $30.40 billion, a P/E ratio of 168.55 and a beta of 0.85. The business’s 50-day simple moving average is $74.62 and its 200-day simple moving average is $75.37.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Thursday, January 2nd. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research note on Friday, January 10th. Citigroup decreased their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, BMO Capital Markets decreased their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.92.

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.