OneAscent Financial Services LLC Invests $212,000 in CoStar Group, Inc. (NASDAQ:CSGP)

OneAscent Financial Services LLC acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, Holdings Channel.com reports. The fund acquired 2,967 shares of the technology company’s stock, valued at approximately $212,000.

Several other large investors also recently bought and sold shares of the business. Benjamin Edwards Inc. grew its stake in shares of CoStar Group by 652.7% in the third quarter. Benjamin Edwards Inc. now owns 22,521 shares of the technology company’s stock worth $1,699,000 after acquiring an additional 19,529 shares during the period. Hilltop Holdings Inc. bought a new stake in CoStar Group in the 3rd quarter worth approximately $426,000. Investment Management Corp of Ontario raised its stake in CoStar Group by 48.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 13,494 shares of the technology company’s stock valued at $1,018,000 after buying an additional 4,400 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in shares of CoStar Group by 16.1% during the 3rd quarter. IHT Wealth Management LLC now owns 4,074 shares of the technology company’s stock valued at $307,000 after buying an additional 565 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in shares of CoStar Group by 1.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 392,387 shares of the technology company’s stock worth $29,602,000 after buying an additional 6,500 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $72.62 on Friday. The firm has a market cap of $29.78 billion, a price-to-earnings ratio of 207.49 and a beta of 0.93. The firm has a fifty day moving average price of $77.30 and a 200 day moving average price of $75.79. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $95.71. 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 (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $703.00 million. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Craig Hallum assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods reduced their target price 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. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, William Blair started coverage on CoStar Group in a report on Friday, February 28th. They issued a “market perform” rating on the stock. 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 company. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

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.