TFJ Management LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

TFJ Management LLC purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,488 shares of the technology company’s stock, valued at approximately $966,000. CoStar Group accounts for about 0.9% of TFJ Management LLC’s investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds also recently modified their holdings of the business. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the fourth quarter valued at $25,000. ORG Partners LLC lifted its holdings in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the fourth quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after purchasing an additional 402 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Activity

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CSGP shares. Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. Citigroup dropped their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Needham & Company LLC decreased their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.54.

CoStar Group Trading Up 0.9 %

Shares of CoStar Group stock opened at $79.70 on Friday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $32.69 billion, a PE ratio of 227.71 and a beta of 0.88. The firm’s 50 day moving average is $77.48 and its 200 day moving average is $75.92.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.