HBK Sorce Advisory LLC Has $330,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

HBK Sorce Advisory LLC lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,615 shares of the technology company’s stock after selling 420 shares during the quarter. HBK Sorce Advisory LLC’s holdings in CoStar Group were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CSGP. Moran Wealth Management LLC boosted its holdings in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after buying an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after buying an additional 176 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after buying an additional 209 shares in the last quarter. Finally, FWG Holdings LLC boosted its holdings in shares of 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 buying an additional 219 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Up 4.4 %

Shares of CoStar Group stock opened at $78.73 on Friday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The stock’s 50-day simple moving average is $75.32 and its 200 day simple moving average is $75.66. The stock has a market capitalization of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93. 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 data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. As a group, research 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 buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

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 report on Tuesday, February 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating for the company. The Goldman Sachs Group started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.07.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company’s stock.

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.