New York Life Investment Management LLC Purchases 446 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

New York Life Investment Management LLC grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,782 shares of the technology company’s stock after acquiring an additional 446 shares during the period. New York Life Investment Management LLC’s holdings in CoStar Group were worth $3,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the last quarter. State Street Corp lifted its stake in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of CoStar Group during the 3rd quarter worth about $48,768,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of CoStar Group by 8,314.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock worth $30,925,000 after buying an additional 405,062 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSGP. The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday. They set a “buy” rating for the company. William Blair started coverage on shares of CoStar Group in a research note on Friday. They set a “market perform” rating for the company. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Finally, Piper Sandler started coverage on shares of CoStar Group in a research note on Friday. They issued an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.25 on Friday. The firm has a 50 day moving average of $74.30 and a 200-day moving average of $75.54. The stock has a market capitalization of $31.27 billion, a PE ratio of 217.86 and a beta of 0.87. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued 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 during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares 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.