Schechter Investment Advisors LLC bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,394 shares of the technology company's stock, valued at approximately $529,000.
Several other large investors have also recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. State Street Corp raised its stake in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock valued at $1,286,987,000 after buying an additional 722,153 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of CoStar Group in the 3rd quarter valued at $48,768,000. Finally, Icon Wealth Advisors LLC raised its stake in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company's stock valued at $30,925,000 after buying an additional 405,062 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:CSGP traded up $2.23 during midday trading on Wednesday, hitting $77.81. The stock had a trading volume of 5,481,954 shares, compared to its average volume of 3,237,428. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $74.51 and its 200-day simple moving average is $75.59. The company has a market cap of $31.91 billion, a P/E ratio of 222.31 and a beta of 0.87.
CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, sell-side analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.
CoStar Group declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.
A number of equities research analysts recently issued reports on CSGP shares. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Stephens reiterated an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.
Check Out Our Latest Research Report on CSGP
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.
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