Tectonic Advisors LLC Acquires New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Tectonic Advisors LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,049 shares of the technology company’s stock, valued at approximately $290,000.

Several other hedge funds have also recently bought and sold shares of the business. ORG Partners LLC boosted its stake in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the 4th quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares during the period. Ashton Thomas Securities LLC acquired a new position in CoStar Group during the third quarter valued at approximately $40,000. Finally, CENTRAL TRUST Co raised its position in shares of CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock valued at $70,000 after purchasing an additional 931 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Up 0.6 %

Shares of CSGP opened at $78.19 on Friday. 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 company has a 50-day moving average price of $74.47 and a two-hundred day moving average price of $75.46. The stock has a market cap of $32.05 billion, a price-to-earnings ratio of 177.71 and a beta of 0.87. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

Analyst Ratings Changes

A number of research firms have issued reports on CSGP. Keefe, Bruyette & Woods decreased their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Citigroup decreased their target price on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.23.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.57% of the stock is owned by corporate insiders.

About CoStar Group

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.