Avantax Advisory Services Inc. Decreases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Avantax Advisory Services Inc. decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,717 shares of the technology company’s stock after selling 3,318 shares during the quarter. Avantax Advisory Services Inc.’s holdings in CoStar Group were worth $1,197,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CSGP. Moran Wealth Management LLC grew its stake in shares of CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after buying an additional 161 shares during the last quarter. Allworth Financial LP increased its stake in CoStar Group by 9.7% in the fourth 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. Atria Wealth Solutions Inc. lifted its position in shares of CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of CoStar Group by 1.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 209 shares during the last quarter. Finally, FWG Holdings LLC increased its stake in CoStar Group by 3.5% in the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after buying an additional 219 shares during the period. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CSGP shares. Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Needham & Company LLC dropped their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Wells Fargo & Company lowered their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Up 1.3 %

CoStar Group stock opened at $79.40 on Thursday. The stock has a market cap of $32.56 billion, a PE ratio of 226.86 and a beta of 0.93. 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, Inc. has a 1-year low of $68.26 and a 1-year high of $97.91. The stock’s fifty day moving average is $75.82 and its two-hundred day moving average is $75.71.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates 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, sell-side analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has initiated a share 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’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 owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is owned by corporate insiders.

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.