Octavia Wealth Advisors LLC Makes New $828,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Octavia Wealth Advisors LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,450 shares of the technology company's stock, valued at approximately $828,000.

A number of other large investors have also made changes to their positions in CSGP. Hopwood Financial Services Inc. purchased a new position in CoStar Group during the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in CoStar Group in the fourth quarter worth about $30,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of CoStar Group during the fourth quarter worth about $40,000. Finally, Private Trust Co. NA increased its holdings in shares of CoStar Group by 969.5% during the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company's stock valued at $45,000 after acquiring an additional 572 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CSGP. The Goldman Sachs Group started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating for the company. Craig Hallum initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. Citigroup lowered their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Bank of America assumed coverage on CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their target price on CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $87.54.

CoStar Group Price Performance

Shares of CSGP opened at $78.52 on Monday. The business's 50-day moving average is $76.88 and its two-hundred day moving average is $76.31. The company has a market capitalization of $33.13 billion, a P/E ratio of 224.34 and a beta of 0.87. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $83.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

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

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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