Solidarity Wealth LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Solidarity Wealth LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 37,917 shares of the technology company’s stock, valued at approximately $2,714,000.

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC boosted its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the third quarter worth $40,000. Quarry LP bought a new stake in shares of CoStar Group in the second quarter valued at $54,000. Brooklyn Investment Group purchased a new position in shares of CoStar Group during the 3rd quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group during the 2nd quarter worth $104,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $73.85 on Tuesday. The company has a market cap of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85. The company has a 50-day moving average price of $74.67 and a 200-day moving average price of $75.35. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Citigroup reduced their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.92.

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.