CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 41.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,952 shares of the technology company’s stock after acquiring an additional 1,731 shares during the quarter. HighPoint Advisor Group LLC’s holdings in CoStar Group were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CSGP. Allworth Financial LP raised its holdings in shares of 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. boosted its holdings in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares during the period. Moran Wealth Management LLC grew its position in shares of CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after buying an additional 180 shares during the last quarter. FWG Holdings LLC grew its position 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 valued at $494,000 after buying an additional 219 shares during the last quarter. 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 acquiring an additional 220 shares during the period. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Up 0.9 %

CoStar Group stock opened at $79.92 on Thursday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $95.71. 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 stock has a market capitalization of $32.78 billion, a PE ratio of 228.34 and a beta of 0.93. The firm has a 50 day simple moving average of $77.29 and a 200-day simple moving average of $75.82.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results 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 firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several recent research reports. Craig Hallum assumed coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. Finally, Wells Fargo & Company lowered their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were 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 in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.57% of the stock is owned by corporate 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.