EntryPoint Capital LLC Makes New $327,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

EntryPoint Capital LLC acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, Holdings Channel.com reports. The firm acquired 4,570 shares of the technology company’s stock, valued at approximately $327,000.

Several other large investors have also made changes to their positions in the business. Hopwood Financial Services Inc. purchased a new stake in CoStar Group in the 4th quarter worth $25,000. ORG Partners LLC increased its stake in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the 4th quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings 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 during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.07.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Trading Down 0.3 %

Shares of CoStar Group stock opened at $80.13 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 company has a fifty day simple moving average of $76.85 and a 200-day simple moving average of $75.83. The stock has a market cap of $32.86 billion, a price-to-earnings ratio of 228.94 and a beta of 0.93. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.64.

CoStar Group (NASDAQ:CSGP) last released 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. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. On average, equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership 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.