65,295 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 65,295 shares of the technology company’s stock, valued at approximately $4,674,000.

Several other large investors have also modified their holdings of the business. Hopwood Financial Services Inc. purchased a new position in CoStar Group during the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its position in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the 4th quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group in the 4th quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CoStar Group by 17,100.0% during the 4th 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 last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by corporate insiders.

CoStar Group Stock Down 1.0 %

CSGP stock opened at $79.31 on Friday. The company has a market capitalization of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $96.98. The firm’s fifty day simple moving average is $76.96 and its 200-day simple moving average is $75.83. 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 posted 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 company had revenue of $709.40 million for 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, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the subject of a number of recent research reports. Needham & Company LLC reduced their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. William Blair started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating for the company. Craig Hallum began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Finally, Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.