CoStar Group, Inc. (NASDAQ:CSGP) Position Boosted by First Foundation Advisors

First Foundation Advisors lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,016 shares of the technology company’s stock after purchasing an additional 23,248 shares during the period. First Foundation Advisors’ holdings in CoStar Group were worth $6,516,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Treasurer of the State of North Carolina raised its holdings in shares of CoStar Group by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 178,498 shares of the technology company’s stock valued at $12,779,000 after buying an additional 1,120 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of CoStar Group in the 4th quarter valued at $333,000. Raymond James Financial Inc. bought a new position in CoStar Group in the 4th quarter worth $45,993,000. APG Asset Management N.V. bought a new position in CoStar Group in the 4th quarter worth $15,037,000. Finally, Bank of Nova Scotia increased its holdings in shares of CoStar Group by 5.3% during the 4th quarter. Bank of Nova Scotia now owns 50,116 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 2,537 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $75.79 on Thursday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The firm has a market cap of $31.08 billion, a price-to-earnings ratio of 216.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The business has a 50-day simple moving average of $77.26 and a two-hundred day simple moving average of $75.74.

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

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

Wall Street Analyst Weigh In

A number of research firms have commented on CSGP. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. William Blair started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company 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.