GAMMA Investing LLC Buys New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

GAMMA Investing LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the technology company’s stock, valued at approximately $150,000.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CSGP shares. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday. Robert W. Baird upped 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. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a report on Friday, April 12th. BTIG Research began coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating for the company. Finally, Needham & Company LLC upped their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Stock Up 2.6 %

CoStar Group stock opened at $92.65 on Friday. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The firm has a 50 day moving average price of $89.77 and a 200-day moving average price of $84.78. The company has a market capitalization of $37.83 billion, a P/E ratio of 126.92, a P/E/G ratio of 10.86 and a beta of 0.84. The company has a quick ratio of 12.01, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. As a group, equities analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current year.

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.