Envestnet Asset Management Inc. Increases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Envestnet Asset Management Inc. increased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,811,813 shares of the technology company's stock after buying an additional 141,220 shares during the quarter. Envestnet Asset Management Inc. owned 0.44% of CoStar Group worth $129,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CSGP. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group in the 4th quarter worth approximately $25,000. ORG Partners LLC increased its holdings in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group in the 4th quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group during the 4th quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after purchasing an additional 402 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is owned by insiders.

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CoStar Group Stock Up 2.6 %

Shares of CSGP stock traded up $1.97 during mid-day trading on Friday, reaching $77.39. 2,224,793 shares of the company's stock traded hands, compared to its average volume of 2,739,405. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $93.94. The company has a market cap of $31.74 billion, a P/E ratio of 221.11 and a beta of 0.88. The company's 50-day moving average price is $77.23 and its 200-day moving average price is $75.77. 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 (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. On average, equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has approved a share buyback program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSGP. Royal Bank of Canada reissued a "sector perform" rating and set a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Tuesday, January 28th. The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. Craig Hallum assumed coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Finally, Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.54.

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.