Harvest Fund Management Co. Ltd Has $1.73 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Harvest Fund Management Co. Ltd increased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 27.8% in the fourth quarter, HoldingsChannel reports. The firm owned 24,127 shares of the technology company’s stock after acquiring an additional 5,249 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CoStar Group were worth $1,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in CoStar Group in the 4th quarter worth approximately $25,000. ORG Partners LLC boosted its stake in 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 purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in CoStar Group in the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position 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 in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP opened at $79.40 on Thursday. The company has a market capitalization of $32.56 billion, a PE ratio of 226.86 and a beta of 0.93. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.91. 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 $75.82 and its 200 day moving average price is $75.71.

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

CoStar Group announced that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued an “overweight” rating for the company. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Craig Hallum assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.07.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s 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 sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

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.