CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Wealth Alliance

Wealth Alliance increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,891 shares of the technology company’s stock after acquiring an additional 633 shares during the quarter. Wealth Alliance’s holdings in CoStar Group were worth $350,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Moran Wealth Management LLC boosted its position in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP raised its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. raised its stake 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 worth $557,000 after purchasing an additional 176 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 209 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSGP shares. JPMorgan Chase & Co. cut their price target 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. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Needham & Company LLC cut 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. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

CoStar Group Stock Performance

CoStar Group stock opened at $76.79 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a market capitalization of $31.48 billion, a price-to-earnings ratio of 219.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm’s fifty day moving average price is $73.83 and its 200 day moving average price is $75.39.

CoStar Group (NASDAQ:CSGP) last released its quarterly 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. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by insiders.

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.