Wallace Advisory Group LLC Takes $402,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Wallace Advisory Group LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,075 shares of the technology company's stock, valued at approximately $402,000.

Other large investors have also modified their holdings of the company. Colonial Trust Co SC boosted its stake in CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after acquiring an additional 145 shares during the period. DoubleLine ETF Adviser LP lifted its holdings in shares of CoStar Group by 0.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock worth $2,105,000 after purchasing an additional 146 shares during the last quarter. Allworth Financial LP boosted its position in CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. grew its stake in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after buying an additional 176 shares during the last quarter. Finally, Moran Wealth Management LLC increased its position in CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after buying an additional 180 shares during the period. Institutional investors own 96.60% of the company's stock.

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 transaction of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several analyst reports. Craig Hallum initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. Wells Fargo & Company boosted their target price on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and issued a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. William Blair initiated coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating on the stock. Finally, Stephens reissued an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. Two research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.54.

CoStar Group Stock Up 3.3%

NASDAQ:CSGP traded up $2.42 during trading hours on Tuesday, hitting $75.69. 3,017,343 shares of the stock traded hands, compared to its average volume of 2,916,665. The firm has a 50 day moving average price of $77.04 and a 200 day moving average price of $76.23. The firm has a market cap of $31.93 billion, a price-to-earnings ratio of 216.26 and a beta of 0.89. 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 current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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