Bellwether Advisors LLC Grows Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Bellwether Advisors LLC raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 63.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,979 shares of the technology company’s stock after buying an additional 4,634 shares during the quarter. Bellwether Advisors LLC’s holdings in CoStar Group were worth $858,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. William Blair assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating on the stock. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Piper Sandler began coverage on CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating on the stock. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Needham & Company LLC dropped their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.54.

CoStar Group Trading Down 0.5 %

NASDAQ CSGP opened at $82.82 on Monday. The firm has a market cap of $33.97 billion, a PE ratio of 236.63 and a beta of 0.88. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $93.29. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $78.20 and a 200 day moving average price of $76.17.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. As a group, sell-side 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 repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase 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 shares are undervalued.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated 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 owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.