Snowden Capital Advisors LLC Buys 3,459 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Snowden Capital Advisors LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 73.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,140 shares of the technology company’s stock after purchasing an additional 3,459 shares during the period. Snowden Capital Advisors LLC’s holdings in CoStar Group were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CSGP. Polen Capital Management LLC bought a new stake in shares of CoStar Group in the 4th quarter valued at approximately $465,134,000. Norges Bank bought a new stake in shares of CoStar Group in the 4th quarter valued at approximately $390,755,000. Capital International Investors grew its stake in shares of CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock valued at $1,004,578,000 after purchasing an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of CoStar Group by 24.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock valued at $459,314,000 after purchasing an additional 1,267,263 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in CoStar Group by 2,181.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company’s stock worth $80,847,000 after acquiring an additional 1,079,815 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Down 0.7%

NASDAQ:CSGP opened at $76.37 on Wednesday. The stock’s fifty day moving average price is $78.05 and its two-hundred day moving average price is $76.30. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $87.86. 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 company has a market cap of $32.22 billion, a price-to-earnings ratio of 218.20 and a beta of 0.89.

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

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

Wall Street Analyst Weigh In

CSGP has been the topic of a number of research analyst reports. Stephens restated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.31.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This represents a 5.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.09% of the stock is currently owned by company insiders.

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.