CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by FIL Ltd

FIL Ltd increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 79.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,425 shares of the technology company’s stock after purchasing an additional 87,249 shares during the quarter. FIL Ltd’s holdings in CoStar Group were worth $14,134,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the period. Moran Wealth Management LLC boosted its holdings in CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after purchasing an additional 180 shares during the last quarter. FWG Holdings LLC grew its position in CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after purchasing an additional 219 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 2.6 %

Shares of CoStar Group stock opened at $77.39 on Friday. The firm has a market capitalization of $31.74 billion, a price-to-earnings ratio of 221.11 and a beta of 0.88. 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, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The stock has a 50 day moving average of $77.23 and a 200 day moving average of $75.76.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $709.40 million for 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%. As a group, research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Citigroup dropped their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Craig Hallum began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group 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.