Dash Acquisitions Inc. Invests $5.97 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Dash Acquisitions Inc. acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,438 shares of the technology company's stock, valued at approximately $5,971,000. CoStar Group comprises 1.3% of Dash Acquisitions Inc.'s investment portfolio, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSGP. State Street Corp boosted its holdings in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company's stock valued at $850,656,000 after buying an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company's stock worth $202,509,000 after buying an additional 76,916 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after acquiring an additional 1,001,177 shares during the period. Finally, Barclays PLC raised its position in CoStar Group by 91.4% during the third 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 in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded down $1.54 during trading on Friday, reaching $76.79. The stock had a trading volume of 4,667,016 shares, compared to its average volume of 2,816,777. 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, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market cap of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. The business has a fifty day moving average price of $73.83 and a 200-day moving average price of $75.39.

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

CoStar Group declared that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CSGP shares. BMO Capital Markets lowered their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. JMP Securities reissued a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.57% of the stock is owned by insiders.

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.