Prestige Wealth Management Group LLC Boosts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Prestige Wealth Management Group LLC increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,639 shares of the technology company’s stock after purchasing an additional 481 shares during the period. Prestige Wealth Management Group LLC’s holdings in CoStar Group were worth $404,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CSGP. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group in the 4th quarter worth $25,000. ORG Partners LLC lifted its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in 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 acquiring an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSGP shares. JPMorgan Chase & Co. dropped their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. William Blair assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. Citigroup reduced their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC dropped their price target 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, February 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction 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 approximately $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Price Performance

Shares of CSGP stock opened at $80.14 on Tuesday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.64. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $76.36 and a two-hundred day simple moving average of $75.75. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 228.97 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a share buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership 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.