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

ICA Group Wealth Management LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,079 shares of the technology company’s stock, valued at approximately $94,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. HighTower Advisors LLC increased its holdings in shares of CoStar Group by 1.7% in the third quarter. HighTower Advisors LLC now owns 39,825 shares of the technology company’s stock valued at $3,047,000 after purchasing an additional 659 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in CoStar Group by 32.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 97,003 shares of the technology company’s stock worth $7,395,000 after buying an additional 23,830 shares during the period. QRG Capital Management Inc. purchased a new position in CoStar Group during the 3rd quarter worth approximately $1,107,000. Envestnet Portfolio Solutions Inc. acquired a new stake in CoStar Group during the 3rd quarter valued at approximately $3,669,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of CoStar Group by 24.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,775,814 shares of the technology company’s stock valued at $136,542,000 after acquiring an additional 352,169 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 1.0 %

CSGP stock opened at $73.20 on Tuesday. The business’s 50-day moving average is $85.48 and its 200 day moving average is $86.23. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The stock has a market cap of $29.89 billion, a price-to-earnings ratio of 100.27, a PEG ratio of 11.01 and a beta of 0.84. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. Needham & Company LLC raised their target price on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Stephens restated an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price target on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. The Goldman Sachs Group upped their price objective on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, BMO Capital Markets lifted their target price on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.46.

Insider Activity

In related news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. Company 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.