EntryPoint Capital LLC Buys Shares of 4,570 CoStar Group, Inc. (NASDAQ:CSGP)

EntryPoint Capital LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,570 shares of the technology company’s stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Hopwood Financial Services Inc. purchased a new stake in CoStar Group during the fourth quarter worth $25,000. ORG Partners LLC raised its position in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group during the 4th quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group during the fourth quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in CoStar Group by 17,100.0% in 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 during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following 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 Securities & Exchange Commission, which is available through this link. 1.57% of the stock is owned by company insiders.

CoStar Group Stock Down 0.3 %

NASDAQ:CSGP opened at $80.13 on Friday. The firm has a market capitalization of $32.86 billion, a P/E ratio of 228.94 and a beta of 0.93. The company’s fifty day moving average price is $76.85 and its 200-day moving average price is $75.83. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

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, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CSGP. Piper Sandler assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. Needham & Company LLC lowered their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods dropped their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

About CoStar Group

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.