Tsai Capital Corp Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Tsai Capital Corp increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,058 shares of the technology company’s stock after purchasing an additional 136 shares during the quarter. CoStar Group accounts for approximately 3.2% of Tsai Capital Corp’s investment portfolio, making the stock its 8th largest position. Tsai Capital Corp’s holdings in CoStar Group were worth $4,371,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group during the fourth quarter worth about $25,000. ORG Partners LLC lifted its stake in CoStar Group by 534.8% in 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. acquired a new stake in CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group during the fourth quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after acquiring an additional 513 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was 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 directly owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of recent research reports. Citigroup lowered their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 target price on the stock. Needham & Company LLC cut their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $79.31 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $76.96 and its 200-day moving average price is $75.83. The firm has a market capitalization of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $96.98.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $703.00 million. Equities research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has approved a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.