Jones Financial Companies Lllp Buys 451 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Jones Financial Companies Lllp raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,321 shares of the technology company’s stock after acquiring an additional 451 shares during the quarter. Jones Financial Companies Lllp’s holdings in CoStar Group were worth $95,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group in the fourth quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of CoStar Group in the fourth quarter valued at about $40,000. Finally, Private Trust Co. NA raised its holdings in shares of CoStar Group by 969.5% in the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock valued at $45,000 after buying an additional 572 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSGP shares. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Keefe, Bruyette & Woods dropped their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Citigroup dropped their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Price Performance

CoStar Group stock opened at $78.73 on Monday. The firm has a market capitalization of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The business has a 50-day moving average of $75.32 and a 200-day moving average of $75.66. 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 (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.57% of the stock is owned by insiders.

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.