Grove Bank & Trust Buys 348 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Grove Bank & Trust grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,139 shares of the technology company’s stock after buying an additional 348 shares during the period. Grove Bank & Trust’s holdings in CoStar Group were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. bought a new position in CoStar Group during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter worth about $30,000. Annis Gardner Whiting Capital Advisors LLC raised its position 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 purchasing an additional 402 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of CoStar Group during the fourth quarter worth about $40,000. Finally, Private Trust Co. NA raised its position in shares of CoStar Group by 969.5% during the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock worth $45,000 after purchasing an additional 572 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 1.0%

CSGP stock opened at $81.94 on Tuesday. 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 business has a 50 day moving average price of $77.60 and a two-hundred day moving average price of $76.32. The company has a market cap of $34.57 billion, a price-to-earnings ratio of 234.11 and a beta of 0.87. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68.

CoStar Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler assumed coverage on CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating on the stock. William Blair assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Bank of America assumed coverage on CoStar Group in a research report on Friday, May 30th. They set a “neutral” rating and a $79.00 price target on the stock. The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $87.69.

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.