Redmond Asset Management LLC Buys 835 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Redmond Asset Management LLC lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,615 shares of the technology company’s stock after buying an additional 835 shares during the period. Redmond Asset Management LLC’s holdings in CoStar Group were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Barclays PLC raised its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. State Street Corp increased its holdings in shares of CoStar Group by 4.4% during the third 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 in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of CoStar Group during the third quarter worth $48,768,000. Finally, Icon Wealth Advisors LLC increased its holdings in shares of 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 worth $30,925,000 after buying an additional 405,062 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSGP. Keefe, Bruyette & Woods lowered their price target 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. Wells Fargo & Company lowered their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, Citigroup reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group Stock Performance

Shares of CSGP opened at $76.79 on Friday. 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 stock has a market capitalization of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87. The firm’s fifty day simple moving average is $73.83 and its two-hundred day simple moving average is $75.39. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for 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 3.11%. As a group, analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has initiated 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction 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 represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company’s stock.

CoStar Group Company 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.