Diversify Advisory Services LLC Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Diversify Advisory Services LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, Holdings Channel reports. The fund acquired 8,958 shares of the technology company’s stock, valued at approximately $626,000.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC boosted its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in CoStar Group during the third quarter worth about $40,000. Quarry LP acquired a new position in CoStar Group in the second quarter valued at about $54,000. Brooklyn Investment Group bought a new stake in shares of CoStar Group in the third quarter worth about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CoStar Group during the second quarter worth about $104,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Up 0.4 %

NASDAQ:CSGP opened at $74.16 on Wednesday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market capitalization of $30.40 billion, a price-to-earnings ratio of 168.55 and a beta of 0.85. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $74.63 and its two-hundred day moving average price is $75.35.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. Equities research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CSGP shares. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. Citigroup reduced their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.92.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

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.