Dynasty Wealth Management LLC Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Dynasty Wealth Management LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 281.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,952 shares of the technology company’s stock after buying an additional 11,770 shares during the quarter. Dynasty Wealth Management LLC’s holdings in CoStar Group were worth $1,142,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position 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 worth $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Geode Capital Management LLC raised its stake in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after buying an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after acquiring an additional 76,916 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 2.5 %

CoStar Group stock opened at $76.25 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The stock has a fifty day moving average of $74.30 and a 200 day moving average of $75.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market cap of $31.27 billion, a PE ratio of 217.86 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CSGP shares. Piper Sandler assumed coverage on shares of CoStar Group in a research note on Friday. They issued an “overweight” rating on the stock. Craig Hallum initiated coverage on shares of CoStar Group in a research note on Friday. They issued a “buy” rating on the stock. Citigroup reduced their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

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.