CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Lifted by abrdn plc

abrdn plc grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 69.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 169,683 shares of the technology company’s stock after purchasing an additional 69,744 shares during the period. abrdn plc’s holdings in CoStar Group were worth $14,829,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after buying an additional 761,383 shares in the last quarter. Wellington Management Group LLP lifted its position in CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after purchasing an additional 662,592 shares during the period. FMR LLC boosted its stake in CoStar Group by 83.2% during the 3rd quarter. FMR LLC now owns 1,405,414 shares of the technology company’s stock valued at $108,062,000 after purchasing an additional 638,241 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in CoStar Group by 5.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after purchasing an additional 596,595 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of CoStar Group by 24.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,775,814 shares of the technology company’s stock valued at $136,542,000 after purchasing an additional 352,169 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP opened at $91.95 on Thursday. The company has a market capitalization of $37.55 billion, a PE ratio of 125.96, a PEG ratio of 9.73 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The company’s 50 day moving average price is $89.40 and its 200 day moving average price is $84.64. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts expect that CoStar Group, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSGP. Jefferies Financial Group raised their target price on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. The Goldman Sachs Group raised their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Robert W. Baird boosted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Citigroup increased their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, BTIG Research initiated coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $102.15.

CoStar Group 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.