Allworth Financial LP Acquires 173 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Allworth Financial LP raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,950 shares of the technology company’s stock after buying an additional 173 shares during the period. Allworth Financial LP’s holdings in CoStar Group were worth $144,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after acquiring an additional 513 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $40,000. Finally, CENTRAL TRUST Co grew its stake in shares of CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after acquiring an additional 931 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Down 2.0 %

CoStar Group stock opened at $76.79 on Monday. The stock’s fifty day simple moving average is $73.86 and its 200-day simple moving average is $75.44. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market capitalization of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has initiated a stock repurchase 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 typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Citigroup dropped their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.