Lake Street Advisors Group LLC Has $456,000 Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Lake Street Advisors Group LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,374 shares of the technology company’s stock after purchasing an additional 289 shares during the period. Lake Street Advisors Group LLC’s holdings in CoStar Group were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CSGP. Barclays PLC lifted its holdings in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. raised its position in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp lifted its stake in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Point72 Asset Management L.P. bought a new position in shares of CoStar Group in the 3rd quarter worth $48,768,000. Finally, Icon Wealth Advisors LLC grew its stake in shares of CoStar Group by 8,314.1% during the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock worth $30,925,000 after purchasing an additional 405,062 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $74.36 on Friday. The company has a market capitalization of $30.50 billion, a price-to-earnings ratio of 212.46 and a beta of 0.87. The business’s 50-day moving average price is $74.21 and its two-hundred day moving average price is $75.49. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. Equities analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on CSGP shares. JPMorgan Chase & Co. reduced their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.