CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 73.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,140 shares of the technology company's stock after purchasing an additional 3,459 shares during the quarter. Snowden Capital Advisors LLC's holdings in CoStar Group were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CSGP. Barclays PLC increased its position in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the period. Merit Financial Group LLC acquired a new stake in CoStar Group in the 4th quarter valued at approximately $248,000. Diversify Wealth Management LLC acquired a new stake in CoStar Group in the 4th quarter valued at approximately $437,000. Diversify Advisory Services LLC acquired a new stake in CoStar Group in the 4th quarter valued at approximately $626,000. Finally, Aurora Investment Managers LLC. increased its position in CoStar Group by 1.5% in the 4th quarter. Aurora Investment Managers LLC. now owns 22,193 shares of the technology company's stock valued at $1,589,000 after acquiring an additional 336 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.09% of the company's stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.37 on Wednesday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $87.86. 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 has a market capitalization of $32.22 billion, a P/E ratio of 218.20 and a beta of 0.89. The business has a 50-day moving average of $78.05 and a two-hundred day moving average of $76.30.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. On average, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Needham & Company LLC raised their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. Wells Fargo & Company lifted their price target on CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler started coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.31.

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.

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