Everhart Financial Group Inc. Has $498,000 Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Everhart Financial Group Inc. boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 30.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,281 shares of the technology company’s stock after buying an additional 1,454 shares during the period. Everhart Financial Group Inc.’s holdings in CoStar Group were worth $498,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSGP. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in CoStar Group during the fourth quarter worth $30,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock worth $36,000 after buying an additional 402 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in CoStar Group during the fourth quarter worth $40,000. Finally, Private Trust Co. NA increased its holdings in CoStar Group by 969.5% during the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock worth $45,000 after buying an additional 572 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CSGP shares. Needham & Company LLC boosted their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Bank of America started coverage on shares of CoStar Group in a report on Friday, May 30th. They set a “neutral” rating and a $79.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of CoStar Group from $63.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, April 30th. Citigroup lowered their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $87.54.

CoStar Group Price Performance

NASDAQ:CSGP opened at $81.16 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $83.68. The company has a market cap of $34.24 billion, a P/E ratio of 231.89 and a beta of 0.87. The firm’s fifty day moving average price is $77.42 and its two-hundred day moving average price is $76.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

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

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.