3,358 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Independent Advisor Alliance

Independent Advisor Alliance bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,358 shares of the technology company's stock, valued at approximately $240,000.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of CoStar Group by 73.8% in 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 in the last quarter. Telemark Asset Management LLC increased its position in shares of CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock worth $37,720,000 after acquiring an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company's stock worth $7,812,000 after acquiring an additional 14,468 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of CoStar Group in the third quarter worth approximately $621,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of CoStar Group by 497.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock worth $511,000 after acquiring an additional 5,940 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

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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 completion of the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSGP shares. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price target on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. The Goldman Sachs Group started coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. Needham & Company LLC decreased their price target on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Finally, William Blair started coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "market perform" rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

CoStar Group Stock Performance

Shares of CoStar Group stock traded down $0.56 on Friday, reaching $78.46. The stock had a trading volume of 4,383,489 shares, compared to its average volume of 2,545,640. The business's 50-day moving average price is $76.15 and its two-hundred day moving average price is $75.74. 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 fifty-two week low of $68.26 and a fifty-two week high of $97.64. The stock has a market cap of $32.18 billion, a P/E ratio of 224.17 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $703.00 million. On average, sell-side analysts forecast 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 buyback 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 shares through open market purchases. Shares buyback programs are typically a sign that the company's management 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.