Diversify Advisory Services LLC Takes $626,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Diversify Advisory Services LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,958 shares of the technology company’s stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Partners LLC grew its position in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in CoStar Group during the third quarter worth about $40,000. Quarry LP bought a new position in CoStar Group during the second quarter valued at about $54,000. Brooklyn Investment Group acquired a new position in CoStar Group in the 3rd quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $104,000. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 0.4 %

Shares of NASDAQ CSGP opened at $74.16 on Wednesday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $30.40 billion, a price-to-earnings ratio of 168.55 and a beta of 0.85. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm’s 50-day simple moving average is $74.63 and its 200 day simple moving average is $75.35.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on CSGP. BMO Capital Markets cut their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Citigroup reduced their price objective on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Friday, January 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.92.

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.