Solidarity Wealth LLC Acquires New Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Solidarity Wealth LLC acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, HoldingsChannel reports. The fund acquired 37,917 shares of the technology company’s stock, valued at approximately $2,714,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSGP. ORG Partners LLC raised its position in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares during the period. Ashton Thomas Securities LLC bought a new position in CoStar Group in the third quarter worth approximately $40,000. Quarry LP bought a new position in CoStar Group in the second quarter worth approximately $54,000. Brooklyn Investment Group bought a new position in CoStar Group in the third quarter worth approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in CoStar Group in the second quarter worth approximately $104,000. Institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CSGP shares. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Citigroup decreased their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $92.92.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $73.85 on Tuesday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market capitalization of $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85. The firm has a fifty day simple moving average of $74.67 and a two-hundred day simple moving average of $75.35. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

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.