Headlands Technologies LLC Buys Shares of 5,491 CoStar Group, Inc. (NASDAQ:CSGP)

Headlands Technologies LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,491 shares of the technology company’s stock, valued at approximately $393,000.

A number of other large investors have also made changes to their positions in CSGP. Allworth Financial LP grew its position in CoStar Group by 9.7% during the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. boosted its stake in shares of CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after acquiring an additional 176 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of CoStar Group by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after acquiring an additional 180 shares during the period. FWG Holdings LLC increased its stake in shares of CoStar Group by 3.5% in the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after purchasing an additional 219 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in CoStar Group by 5.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after purchasing an additional 220 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is currently owned by insiders.

CoStar Group Trading Down 4.5 %

Shares of CSGP stock opened at $76.35 on Friday. The company has a 50-day moving average of $77.33 and a two-hundred day moving average of $75.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $95.71. The firm has a market cap of $31.31 billion, a PE ratio of 218.14 and a beta of 0.93.

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

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective for the company. Citigroup lowered their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Two 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group 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.