Capital A Wealth Management LLC Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Capital A Wealth Management LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,006 shares of the technology company's stock, valued at approximately $287,000.

Several other hedge funds also recently made changes to their positions in CSGP. Barclays PLC boosted its position in CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. Merit Financial Group LLC acquired a new position in CoStar Group during the 4th quarter valued at approximately $248,000. Exchange Traded Concepts LLC boosted its position in CoStar Group by 25.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,818 shares of the technology company's stock worth $2,206,000 after acquiring an additional 6,280 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the 4th quarter worth $32,000. Finally, Regatta Capital Group LLC boosted its position in CoStar Group by 3.5% during the 4th quarter. Regatta Capital Group LLC now owns 12,320 shares of the technology company's stock worth $882,000 after acquiring an additional 414 shares during the period. Institutional investors and hedge funds 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 that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CSGP shares. Stephens reissued an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Citigroup cut their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC lifted their price target on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods lifted their price target on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $1.57 during mid-day trading on Friday, hitting $72.50. 6,147,177 shares of the stock traded hands, compared to its average volume of 2,916,908. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68. The company has a market cap of $30.59 billion, a PE ratio of 207.14 and a beta of 0.89. The firm has a 50 day simple moving average of $77.19 and a two-hundred day simple moving average of $76.21.

CoStar Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

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.