Motley Fool Asset Management LLC Increases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Motley Fool Asset Management LLC raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,242 shares of the technology company’s stock after buying an additional 7,712 shares during the period. Motley Fool Asset Management LLC’s holdings in CoStar Group were worth $5,959,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group in the 4th quarter valued at about $25,000. ORG Partners LLC grew its holdings 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 purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of 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 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of CoStar Group by 17,100.0% during 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 buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Up 0.9 %

Shares of CSGP stock opened at $79.92 on Thursday. 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, Inc. has a twelve month low of $68.26 and a twelve month high of $95.71. The company’s 50-day moving average price is $77.29 and its 200-day moving average price is $75.82. The stock has a market cap of $32.78 billion, a price-to-earnings ratio of 228.34 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 5.07% and a return on equity of 3.11%. As a group, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has approved a share buyback 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. William Blair started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Needham & Company LLC decreased their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Citigroup cut their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

Insiders Place Their Bets

In other 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 transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is owned by insiders.

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.