This afternoon we watched CoStar drop -2.7% to a price of $80.08 per share. The large-cap Business Services company is now trading -7.29% below its average target price of $86.38. Analysts have set target prices ranging from $65.0 to $102.0 per share for CoStar, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.7%, and a short ratio of 3.47. The company's insiders own 1.15% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 99.8% of CoStar's shares being owned by this investor type.
Institutions Invested in CoStar
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group, Inc. (The) | 11% | 45,194,499 | $3,619,175,562 |
| 2023-03-31 | Blackrock Inc. | 8% | 31,917,467 | $2,555,950,815 |
| 2023-03-31 | Principal Financial Group, Inc. | 5% | 19,276,710 | $1,543,678,972 |
| 2023-03-31 | BAMCO Inc. | 5% | 18,970,081 | $1,519,124,121 |
| 2023-03-31 | State Street Corporation | 4% | 15,020,694 | $1,202,857,203 |
| 2023-03-31 | Janus Henderson Group PLC | 3% | 13,081,306 | $1,047,551,008 |
| 2023-03-31 | Baillie Gifford and Company | 3% | 12,340,975 | $988,265,300 |
| 2023-03-31 | Massachusetts Financial Services Co. | 3% | 11,542,549 | $924,327,345 |
| 2023-03-31 | Geode Capital Management, LLC | 2% | 9,814,024 | $785,907,059 |
| 2023-03-31 | Sands Capital Management, LLC | 2% | 9,600,576 | $768,814,143 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on CoStar.
