CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 77.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 850 shares of the technology company’s stock after purchasing an additional 370 shares during the period. Farther Finance Advisors LLC’s holdings in CoStar Group were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC increased its stake in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. State Street Corp grew its holdings in shares of CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Amundi increased its stake in CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock worth $200,504,000 after buying an additional 650,454 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in CoStar Group during the 3rd quarter worth approximately $48,768,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSGP. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Craig Hallum started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Citigroup decreased their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $78.46 on Friday. The firm has a market capitalization of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business’s 50 day simple moving average is $76.15 and its 200-day simple moving average is $75.74. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.64.

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. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.