Lake Street Advisors Group LLC Buys 289 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Lake Street Advisors Group LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,374 shares of the technology company’s stock after buying an additional 289 shares during the period. Lake Street Advisors Group LLC’s holdings in CoStar Group were worth $456,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after buying an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. State Street Corp boosted its holdings in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Point72 Asset Management L.P. bought a new position in shares of CoStar Group during the third quarter worth approximately $48,768,000. Finally, Icon Wealth Advisors LLC raised its position in shares of CoStar Group by 8,314.1% in the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after buying an additional 405,062 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CSGP shares. Citigroup reduced their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Wells Fargo & Company dropped their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $74.36 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a market cap of $30.50 billion, a price-to-earnings ratio of 212.46 and a beta of 0.87. The firm has a 50 day simple moving average of $74.21 and a 200 day simple moving average of $75.49.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 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 firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.