Orion Portfolio Solutions LLC Acquires 14,714 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Orion Portfolio Solutions LLC increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 76.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,851 shares of the technology company’s stock after purchasing an additional 14,714 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in CoStar Group were worth $2,423,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position 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 valued at $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Geode Capital Management LLC lifted its position in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after acquiring an additional 236,407 shares during the last quarter. Polen Capital Management LLC acquired a new stake in CoStar Group in the fourth quarter valued at approximately $465,134,000. Norges Bank purchased a new position in CoStar Group in the fourth quarter worth $390,755,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CoStar Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after purchasing an additional 133,876 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. William Blair started coverage on CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods dropped their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased 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 report on Wednesday, February 19th. Needham & Company LLC dropped their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 0.1 %

CSGP opened at $79.18 on Wednesday. The company has a fifty day moving average of $77.17 and a two-hundred day moving average of $75.79. 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, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $95.71. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 226.23 and a beta of 0.93.

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

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.