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

Bellwether Advisors LLC grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 63.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,979 shares of the technology company's stock after purchasing an additional 4,634 shares during the period. Bellwether Advisors LLC's holdings in CoStar Group were worth $858,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at about $25,000. ORG Partners LLC increased its holdings in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after purchasing an additional 402 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday. Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. Citigroup reduced their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and an average price target of $88.31.

CoStar Group Trading Up 1.8 %

Shares of CoStar Group stock traded up $1.38 during trading hours on Friday, reaching $77.96. 3,252,894 shares of the company's stock were exchanged, compared to its average volume of 2,815,875. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $92.74. The company has a fifty day moving average of $78.27 and a 200-day moving average of $76.24. 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 firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 222.74 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Sell-side analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.57% of the company's stock.

About CoStar Group

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.