RWA Wealth Partners LLC Acquires 859 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

RWA Wealth Partners LLC grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,430 shares of the technology company’s stock after purchasing an additional 859 shares during the quarter. RWA Wealth Partners LLC’s holdings in CoStar Group were worth $389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised 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 worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of CoStar Group by 497.9% in the 4th 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. Kovitz Investment Group Partners LLC bought a new stake in CoStar Group during the third quarter valued at about $621,000. Cerity Partners LLC grew its stake in CoStar Group by 101.1% in the third quarter. Cerity Partners LLC now owns 14,553 shares of the technology company’s stock valued at $1,098,000 after purchasing an additional 7,317 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in CoStar Group by 79.7% in the third quarter. National Bank of Canada FI now owns 293,148 shares of the technology company’s stock valued at $22,115,000 after purchasing an additional 130,045 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered 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. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Craig Hallum began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Down 0.1 %

NASDAQ:CSGP opened at $79.18 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company’s fifty day moving average price is $77.17 and its 200-day moving average price is $75.79. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $95.71. The firm has a market capitalization of $32.47 billion, a P/E ratio of 226.23 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The business 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 3.11% and a net margin of 5.07%. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group 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.