3,358 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Independent Advisor Alliance

Independent Advisor Alliance acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,358 shares of the technology company’s stock, valued at approximately $240,000.

Several other large investors have also recently made changes to their positions in CSGP. ORG Partners LLC grew its position in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group during the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake 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 worth $37,000 after purchasing an additional 513 shares during the last quarter. Finally, Centricity Wealth Management LLC bought a new stake in shares of CoStar Group in the 4th quarter worth approximately $40,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction that occurred 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 owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.57% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on CSGP shares. Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They set an “overweight” rating for the company. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. William Blair assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods cut 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. Finally, The Goldman Sachs Group started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $79.40 on Thursday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.91. 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 stock has a market cap of $32.56 billion, a P/E ratio of 226.86 and a beta of 0.93. The business’s 50-day moving average price is $75.82 and its two-hundred day moving average price is $75.71.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $709.40 million during 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 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.