HighTower Advisors LLC Has $11.48 Million Stock Position in CoStar Group, Inc. $CSGP

HighTower Advisors LLC lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 194.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,084 shares of the technology company’s stock after acquiring an additional 89,864 shares during the period. HighTower Advisors LLC’s holdings in CoStar Group were worth $11,481,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its stake in shares of CoStar Group by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,789 shares of the technology company’s stock valued at $379,000 after buying an additional 426 shares in the last quarter. NewEdge Advisors LLC increased its stake in CoStar Group by 727.5% in the first quarter. NewEdge Advisors LLC now owns 1,473 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,295 shares during the period. Jones Financial Companies Lllp raised its position in CoStar Group by 860.7% in the first quarter. Jones Financial Companies Lllp now owns 12,691 shares of the technology company’s stock worth $1,006,000 after purchasing an additional 11,370 shares in the last quarter. Empowered Funds LLC lifted its stake in CoStar Group by 9.2% during the first 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 boosted its holdings in CoStar Group by 44.6% during the first quarter. Woodline Partners LP now owns 35,604 shares of the technology company’s stock valued at $2,821,000 after purchasing an additional 10,984 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSGP has been the subject of a number of analyst reports. Citigroup reissued a “market outperform” rating on shares of CoStar Group in a report on Thursday, January 8th. BNP Paribas Exane initiated coverage on shares of CoStar Group in a research report on Wednesday, January 14th. They set a “neutral” rating and a $64.00 target price for the company. Needham & Company LLC cut their price target on shares of CoStar Group from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company set a $48.00 price target on shares of CoStar Group and gave the company an “underweight” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CoStar Group in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.18.

CoStar Group Trading Up 1.6%

NASDAQ:CSGP opened at $49.87 on Friday. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 1-year low of $43.80 and a 1-year high of $97.43. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 997.40, a PEG ratio of 1.31 and a beta of 0.84. The business’s 50-day moving average price is $60.24 and its two-hundred day moving average price is $72.45.

CoStar Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 7th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

CoStar Group 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.