D.A. Davidson & CO. Has $2.07 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

D.A. Davidson & CO. increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,967 shares of the technology company’s stock after purchasing an additional 1,053 shares during the quarter. D.A. Davidson & CO.’s holdings in CoStar Group were worth $2,074,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC lifted its stake in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after acquiring an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after acquiring an additional 76,916 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Finally, Barclays PLC lifted its stake 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 acquiring an additional 1,073,793 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Trading Down 2.0 %

Shares of CoStar Group stock opened at $76.79 on Friday. The company has a market capitalization of $31.48 billion, a price-to-earnings ratio of 219.40 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm’s 50-day moving average price is $73.83 and its two-hundred day moving average price is $75.39.

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

CoStar Group announced that its board has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Wednesday. Citigroup cut their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.