D.A. Davidson & CO. Buys 1,053 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

D.A. Davidson & CO. grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,967 shares of the technology company’s stock after acquiring an additional 1,053 shares during the period. D.A. Davidson & CO.’s holdings in CoStar Group were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CSGP. ORG Partners LLC raised its stake in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CoStar Group during the fourth quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the third quarter worth approximately $40,000. Finally, CENTRAL TRUST Co raised its stake in shares of CoStar Group by 1,825.5% during the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after buying an additional 931 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSGP. Wells Fargo & Company dropped their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods dropped 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. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Wednesday. Finally, Needham & Company LLC lowered their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group Stock Down 2.0 %

Shares of NASDAQ:CSGP opened at $76.79 on Friday. The company has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The company has a 50 day moving average price of $73.83 and a two-hundred day moving average price of $75.39.

CoStar Group (NASDAQ:CSGP) last released its quarterly 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. The company 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%. Analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.