78,438 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Dash Acquisitions Inc.

Dash Acquisitions Inc. bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, Holdings Channel.com reports. The firm bought 78,438 shares of the technology company’s stock, valued at approximately $5,971,000. CoStar Group makes up about 1.3% of Dash Acquisitions Inc.’s portfolio, making the stock its 20th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp lifted its position in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of CoStar Group in the 3rd quarter valued at $48,768,000. Finally, Icon Wealth Advisors LLC grew its stake in shares of CoStar Group by 8,314.1% during the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after buying an additional 405,062 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

NASDAQ:CSGP opened at $79.21 on Thursday. The company has a 50 day moving average price of $73.79 and a 200-day moving average price of $75.34. The firm has a market cap of $32.47 billion, a price-to-earnings ratio of 226.31 and a beta of 0.87. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.13% and a net margin of 5.07%. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’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 directly owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CSGP shares. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. BMO Capital Markets dropped their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.15.

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.