Xponance Inc. Acquires 957 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Xponance Inc. increased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,155 shares of the technology company’s stock after acquiring an additional 957 shares during the quarter. Xponance Inc.’s holdings in CoStar Group were worth $4,020,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group during the 4th quarter worth approximately $25,000. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group during the fourth quarter worth $32,000. Finally, 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 purchasing an additional 513 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Craig Hallum started coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Citigroup dropped their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Down 0.5 %

Shares of NASDAQ CSGP opened at $79.02 on Friday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market cap of $32.41 billion, a P/E ratio of 225.77 and a beta of 0.93. The firm has a 50-day simple moving average of $75.97 and a two-hundred day simple moving average of $75.74.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. Research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The shares were 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 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.57% of the company’s stock.

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.