Intellectus Partners LLC Invests $429,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Intellectus Partners LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, Holdings Channel reports. The firm bought 5,987 shares of the technology company’s stock, valued at approximately $429,000.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC lifted its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the 4th quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in CoStar Group in the 3rd quarter worth about $40,000. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. William Blair assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Up 3.3 %

Shares of CoStar Group stock opened at $79.39 on Friday. The firm’s 50 day moving average price is $74.73 and its 200-day moving average price is $75.63. The company has a quick ratio of 9.63, a current ratio of 8.96 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 $32.56 billion, a P/E ratio of 226.83 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.

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.