Keel Point LLC Buys Shares of 2,952 CoStar Group, Inc. (NASDAQ:CSGP)

Keel Point LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,952 shares of the technology company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its stake in CoStar Group by 497.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock worth $511,000 after buying an additional 5,940 shares during the period. Allworth Financial LP boosted its position in shares of CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after purchasing an additional 173 shares during the period. Douglas Lane & Associates LLC acquired a new stake in CoStar Group in the 4th quarter valued at approximately $27,446,000. Barclays PLC raised its position in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. Finally, Krilogy Financial LLC lifted its stake in CoStar Group by 54.9% during the fourth quarter. Krilogy Financial LLC now owns 23,662 shares of the technology company’s stock worth $1,694,000 after purchasing an additional 8,387 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research analyst reports. Needham & Company LLC raised their target price on CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler started coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. JMP Securities restated a “market outperform” rating and issued a $85.00 price target on shares of CoStar Group in a research note on Wednesday. Wells Fargo & Company increased their price objective on CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.31.

CoStar Group Trading Up 1.8 %

Shares of CoStar Group stock opened at $77.96 on Friday. The company has a fifty day simple moving average of $78.28 and a 200-day simple moving average of $76.23. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $92.74. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $31.97 billion, a price-to-earnings ratio of 222.74 and a beta of 0.88.

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, hitting the consensus estimate of $0.22. The company 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%. On average, equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value 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 approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by company insiders.

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.