FourThought Financial LLC Buys 302 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Posted March 20, 2023

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FourThought Financial LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 232.3% in the third quarter, Holdings Channel.com reports. The firm owned 432 shares of the technology company’s stock after acquiring an additional 302 shares during the period. FourThought Financial LLC’s holdings in CoStar Group were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CSGP. BlackRock Inc. boosted its holdings in CoStar Group by 42.0% in the 3rd quarter. BlackRock Inc. now owns 28,633,861 shares of the technology company’s stock valued at $1,994,349,000 after purchasing an additional 8,470,338 shares during the period. Vanguard Group Inc. boosted its holdings in CoStar Group by 22.1% in the 3rd quarter. Vanguard Group Inc. now owns 42,997,622 shares of the technology company’s stock valued at $2,994,784,000 after purchasing an additional 7,780,240 shares during the period. State Street Corp lifted its holdings in shares of CoStar Group by 84.0% during the 3rd quarter. State Street Corp now owns 14,630,966 shares of the technology company’s stock worth $1,019,047,000 after acquiring an additional 6,681,249 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of CoStar Group by 343.8% during the 1st quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock worth $194,074,000 after acquiring an additional 2,257,140 shares during the period. Finally, Capital International Investors bought a new position in shares of CoStar Group during the 1st quarter worth about $101,893,000. 97.80% of the stock is owned by institutional investors.

CoStar Group Trading Down 1.2 %

CSGP opened at $66.93 on Monday. The company has a current ratio of 13.92, a quick ratio of 13.92 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $27.23 billion, a PE ratio of 71.97, a PEG ratio of 3.64 and a beta of 0.88. CoStar Group, Inc. has a 1-year low of $53.51 and a 1-year high of $85.37. The firm has a 50-day moving average price of $75.03 and a two-hundred day moving average price of $76.17.

Analysts Set New Price Targets

CSGP has been the subject of a number of analyst reports. Stephens reduced their price objective on shares of CoStar Group from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a report on Wednesday, February 22nd. Truist Financial reduced their price objective on shares of CoStar Group from $95.00 to $85.00 in a report on Wednesday, February 22nd. StockNews.com initiated coverage on shares of CoStar Group in a report on Thursday. They set a “hold” rating for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of CoStar Group from $102.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.25.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $70.36, for a total value of $394,016.00. Following the completion of the sale, the insider now owns 44,846 shares in the company, valued at approximately $3,155,364.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.42% of the company’s stock.

CoStar Group Profile

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CoStar Group, Inc engages in providing online real estate marketplaces, information, and analytics in the commercial and residential property markets. It operates through the North America and International geographical segments. The North America segment includes the Unites States and Canada. The International refers to Europe, Asia-Pacific, and Latin America.