Atria Wealth Solutions Inc. Buys 176 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Atria Wealth Solutions Inc. boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,786 shares of the technology company’s stock after purchasing an additional 176 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in CoStar Group were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CSGP. International Assets Investment Management LLC bought a new stake in shares of CoStar Group in the 3rd quarter valued at about $2,481,000. Wealth Enhancement Advisory Services LLC boosted its stake in CoStar Group by 60.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock valued at $1,281,000 after acquiring an additional 6,386 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in CoStar Group in the third quarter valued at approximately $342,000. abrdn plc grew its holdings in CoStar Group by 72.5% in the third quarter. abrdn plc now owns 130,150 shares of the technology company’s stock worth $9,803,000 after purchasing an additional 54,713 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of CoStar Group by 111.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,198 shares of the technology company’s stock worth $392,000 after purchasing an additional 2,742 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $76.92 on Thursday. The stock has a market cap of $31.55 billion, a PE ratio of 219.77 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The business has a 50-day simple moving average of $74.12 and a 200-day simple moving average of $75.50. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced 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. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, equities analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price objective 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. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.