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

Xponance Inc. grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in CoStar Group in the fourth quarter worth $25,000. ORG Partners LLC increased its stake in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new stake in CoStar Group in the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in CoStar Group by 17,100.0% during 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 in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. 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. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. 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 MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

CoStar Group stock opened at $79.02 on Friday. The business has a 50-day moving average of $75.97 and a 200-day moving average of $75.74. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.91. The firm has a market capitalization of $32.41 billion, a P/E ratio of 225.77 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction on 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. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

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.