Venturi Wealth Management LLC Buys 416 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Venturi Wealth Management LLC boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,406 shares of the technology company’s stock after buying an additional 416 shares during the quarter. Venturi Wealth Management LLC’s holdings in CoStar Group were worth $387,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CSGP. Barclays PLC increased its stake in shares of CoStar Group by 91.4% in the third 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. lifted its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. State Street Corp boosted its holdings 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 period. Point72 Asset Management L.P. purchased a new stake in CoStar Group in the 3rd quarter worth $48,768,000. Finally, Icon Wealth Advisors LLC raised its holdings in 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 acquiring an additional 405,062 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 1.1 %

Shares of CSGP opened at $78.35 on Friday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market cap of $32.12 billion, a PE ratio of 223.84 and a beta of 0.87. The business has a fifty day moving average of $73.82 and a 200 day moving average of $75.37.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.13%. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has approved a share buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BMO Capital Markets dropped their price objective 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. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.00.

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.