Headlands Technologies LLC Invests $393,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Headlands Technologies LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,491 shares of the technology company's stock, valued at approximately $393,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSGP. Allworth Financial LP grew its stake in shares of CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock worth $144,000 after buying an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after acquiring an additional 176 shares in the last quarter. Moran Wealth Management LLC raised its position in shares of CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after purchasing an additional 180 shares during the last quarter. FWG Holdings LLC lifted its stake in shares of CoStar Group by 3.5% in the fourth 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 increased its holdings in shares of 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 worth $317,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Stephens reissued an "overweight" rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Piper Sandler assumed coverage on CoStar Group in a research report on Friday, February 28th. They set an "overweight" rating for the company. JMP Securities reissued a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.07.

CoStar Group Price Performance

CSGP traded up $5.47 during trading on Wednesday, hitting $78.70. 5,874,402 shares of the company traded hands, compared to its average volume of 2,727,426. The company has a market cap of $32.28 billion, a PE ratio of 224.86 and a beta of 0.88. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock's 50-day simple moving average is $77.26 and its two-hundred day simple moving average is $75.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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. The business had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

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.