Generali Asset Management SPA SGR Invests $237,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Generali Asset Management SPA SGR purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, Holdings Channel reports. The firm purchased 3,312 shares of the technology company’s stock, valued at approximately $237,000.

A number of other large investors have also added to or reduced their stakes in the stock. Moran Wealth Management LLC grew its holdings in shares of CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares in the last quarter. Allworth Financial LP grew its stake in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after buying an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares in the last quarter. Finally, FWG Holdings LLC lifted its holdings in shares of CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $79.02 on Friday. The business has a 50-day moving average price of $75.97 and a two-hundred day moving average price of $75.74. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.91. 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 company has a market cap of $32.41 billion, a P/E ratio of 225.77 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CSGP shares. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Needham & Company LLC lowered their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. Two equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.