Oppenheimer Asset Management Inc. Has $19.48 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Oppenheimer Asset Management Inc. grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 72.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 272,133 shares of the technology company’s stock after purchasing an additional 114,003 shares during the period. Oppenheimer Asset Management Inc. owned about 0.07% of CoStar Group worth $19,482,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC raised its holdings 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 purchasing an additional 353 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after acquiring an additional 513 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group during the third quarter worth $40,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of CoStar Group during the fourth quarter worth $40,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSGP has been the topic of a number of research analyst reports. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Needham & Company LLC dropped their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their target price on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $76.92 on Thursday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $74.12 and a two-hundred day simple moving average of $75.50. The stock has a market capitalization of $31.55 billion, a price-to-earnings ratio of 219.77 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate 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 net margin of 5.07% and a return on equity of 3.11%. Analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.