560 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Centricity Wealth Management LLC

Centricity Wealth Management LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 560 shares of the technology company’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Moran Wealth Management LLC grew its position in shares of CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares in the last quarter. Allworth Financial LP boosted its stake in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after purchasing an additional 173 shares during the period. Atria Wealth Solutions Inc. grew its holdings in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after buying an additional 176 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of CoStar Group by 5.2% in the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after buying an additional 220 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSGP has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price objective 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. JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday. Needham & Company LLC lowered their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Buying and Selling

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. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

CoStar Group stock opened at $76.79 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $73.83 and a 200-day moving average price of $75.39. The firm has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting 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, equities research analysts forecast 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.

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.