NEOS Investment Management LLC Acquires 9,553 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

NEOS Investment Management LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 24.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,379 shares of the technology company’s stock after acquiring an additional 9,553 shares during the period. NEOS Investment Management LLC’s holdings in CoStar Group were worth $3,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP lifted its stake in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the period. Moran Wealth Management LLC lifted its stake in CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after purchasing an additional 180 shares during the last quarter. FWG Holdings LLC grew its holdings in CoStar Group by 3.5% during the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after purchasing an additional 219 shares during the period. Finally, V Square Quantitative Management LLC increased its position in CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction on Monday, March 10th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is currently owned by insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $79.31 on Friday. The business has a fifty day moving average price of $76.96 and a two-hundred day moving average price of $75.83. The stock has a market capitalization of $32.53 billion, a PE ratio of 226.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $96.98.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CSGP. William Blair initiated coverage on CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.