CoStar Group, Inc. (NASDAQ:CSGP) Position Raised by Proficio Capital Partners LLC

Proficio Capital Partners LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,192 shares of the technology company’s stock after purchasing an additional 573 shares during the period. Proficio Capital Partners LLC’s holdings in CoStar Group were worth $300,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. 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 worth $169,678,000 after buying an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. State Street Corp boosted 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 worth $1,286,987,000 after buying an additional 722,153 shares during the period. Point72 Asset Management L.P. purchased a new position in CoStar Group during the 3rd quarter worth approximately $48,768,000. Finally, Douglas Lane & Associates LLC purchased a new position in shares of CoStar Group during the fourth quarter valued at $27,446,000. Institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s 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 directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $80.37 on Thursday. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 229.63 and a beta of 0.93. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.64. The firm’s 50-day moving average price is $76.72 and its two-hundred day moving average price is $75.80. 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 (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. William Blair started coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Needham & Company LLC dropped 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 report on Wednesday, February 19th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Citigroup cut 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 equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Company 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.