Avantax Advisory Services Inc. Sells 3,318 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Avantax Advisory Services Inc. reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,717 shares of the technology company's stock after selling 3,318 shares during the period. Avantax Advisory Services Inc.'s holdings in CoStar Group were worth $1,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in CoStar Group during the 4th quarter valued at about $25,000. ORG Partners LLC increased its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group in the fourth quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of CoStar Group in the fourth quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock worth $37,000 after acquiring an additional 513 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insider Transactions at CoStar Group

In other 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.57% of the company's stock.

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Wall Street Analyst Weigh In

CSGP has been the subject of a number of research analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. 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. William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "market perform" rating for the company. Finally, Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.07.

CoStar Group Price Performance

NASDAQ:CSGP traded down $0.56 during trading hours on Friday, hitting $78.46. 4,383,489 shares of the stock traded hands, compared to its average volume of 2,545,640. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.64. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93. The stock has a 50 day moving average price of $76.15 and a 200 day moving average price of $75.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. Sell-side analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is 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.