Mercer Global Advisors Inc. ADV Boosts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Mercer Global Advisors Inc. ADV lifted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 84.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,448 shares of the technology company's stock after buying an additional 7,963 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in CoStar Group were worth $1,249,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. increased 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 period. Moran Wealth Management LLC lifted its holdings in CoStar Group by 2.2% during the 4th 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 in the last quarter. FWG Holdings LLC lifted its holdings in CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock worth $494,000 after buying an additional 219 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in CoStar Group by 5.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock valued at $317,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CSGP shares. Citigroup reduced their price objective on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating for the company. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.31.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business'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 directly owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.57% of the company's stock.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $0.07 during trading hours on Thursday, reaching $75.76. 472,673 shares of the company's stock were exchanged, compared to its average volume of 2,855,184. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.96 billion, a price-to-earnings ratio of 216.32 and a beta of 0.89. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $89.33. The company has a 50-day moving average of $78.10 and a 200 day moving average of $76.19.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced 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 business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

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