Proficio Capital Partners LLC Boosts Position in CoStar Group, Inc. (NASDAQ:CSGP)

Proficio Capital Partners LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 8,192.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,105 shares of the technology company’s stock after buying an additional 296,486 shares during the quarter. Proficio Capital Partners LLC owned approximately 0.07% of CoStar Group worth $21,485,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the 3rd quarter worth approximately $40,000. JPMorgan Chase & Co. increased its stake in CoStar Group by 73.8% in the 3rd 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. Telemark Asset Management LLC boosted its position in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 150,000 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CoStar Group by 16.2% during the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of CoStar Group in the third quarter worth approximately $621,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CSGP. William Blair initiated coverage on shares of CoStar Group in a research report on Friday. They set a “market perform” rating on the stock. Piper Sandler initiated coverage on CoStar Group in a research note on Friday. They set an “overweight” rating for the company. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Wells Fargo & Company cut their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Finally, Needham & Company LLC decreased their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Trading Up 2.5 %

NASDAQ CSGP opened at $76.25 on Friday. The stock has a market cap of $31.27 billion, a P/E ratio of 217.86 and a beta of 0.87. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a 50 day simple moving average of $74.30 and a two-hundred day simple moving average of $75.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

CoStar Group Company 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.