62,376 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by ING Groep NV

ING Groep NV acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 62,376 shares of the technology company’s stock, valued at approximately $4,465,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dash Acquisitions Inc. purchased a new stake in shares of CoStar Group in the fourth quarter worth $5,971,000. Wealth Alliance raised its position in CoStar Group by 14.9% during the fourth quarter. Wealth Alliance now owns 4,891 shares of the technology company’s stock valued at $350,000 after purchasing an additional 633 shares in the last quarter. Private Advisor Group LLC raised its position in CoStar Group by 8.2% during the fourth quarter. Private Advisor Group LLC now owns 10,886 shares of the technology company’s stock valued at $779,000 after purchasing an additional 828 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in CoStar Group during the fourth quarter valued at about $157,000. Finally, Atria Wealth Solutions Inc. raised its position in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 2.0 %

Shares of NASDAQ:CSGP opened at $76.79 on Friday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a market cap of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. 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 stock’s 50-day moving average is $73.83 and its 200 day moving average is $75.39.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $703.00 million. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a share repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSGP. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research report on Wednesday. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reduced their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.00.

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.