Visualize Group LP Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Visualize Group LP purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, Holdings Channel reports. The fund purchased 220,391 shares of the technology company’s stock, valued at approximately $15,778,000. CoStar Group accounts for approximately 10.0% of Visualize Group LP’s investment portfolio, making the stock its 4th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group during the 4th quarter valued at $25,000. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the 4th quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the 4th quarter worth $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after acquiring an additional 402 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $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 available at this hyperlink. 1.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday. Craig Hallum assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. William Blair assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.31.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $76.58 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The firm’s 50-day simple moving average is $78.27 and its 200-day simple moving average is $76.24. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $92.74. The firm has a market cap of $31.41 billion, a P/E ratio of 218.80 and a beta of 0.88.

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, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

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.