CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Atria Investments Inc

Atria Investments Inc raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 72.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,556 shares of the technology company’s stock after buying an additional 22,575 shares during the quarter. Atria Investments Inc’s holdings in CoStar Group were worth $3,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CSGP. Barclays PLC increased its stake in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the period. JPMorgan Chase & Co. increased its stake in 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 purchasing an additional 1,001,177 shares during the period. State Street Corp increased its stake in 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 purchasing an additional 722,153 shares during the period. Point72 Asset Management L.P. purchased a new stake in CoStar Group during the third quarter worth about $48,768,000. Finally, Icon Wealth Advisors LLC increased its stake in 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 purchasing an additional 405,062 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Up 3.3 %

CSGP opened at $79.39 on Friday. The firm has a 50 day moving average price of $74.73 and a 200 day moving average price of $75.63. The company has a market cap of $32.56 billion, a PE ratio of 226.83 and a beta of 0.93. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

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, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million during 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%. Sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup cut 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. 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 initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Finally, William Blair initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating on the stock. 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. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.07.

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.