Rockefeller Capital Management L.P. Takes $885,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Rockefeller Capital Management L.P. acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 12,347 shares of the technology company’s stock, valued at approximately $885,000.

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

Analyst Ratings Changes

CSGP has been the topic of several recent research reports. Needham & Company LLC cut their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. William Blair initiated coverage on CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating for the company. JPMorgan Chase & Co. cut 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.54.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

CSGP stock opened at $80.87 on Wednesday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $77.72 and its 200 day simple moving average is $76.00. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $93.94. The firm has a market cap of $33.17 billion, a price-to-earnings ratio of 231.06 and a beta of 0.88.

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

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.