Wealthfront Advisers LLC Acquires 172,271 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Wealthfront Advisers LLC increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 556.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,215 shares of the technology company’s stock after purchasing an additional 172,271 shares during the period. Wealthfront Advisers LLC’s holdings in CoStar Group were worth $14,548,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. ORG Partners LLC increased its position in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in CoStar Group in the 3rd quarter valued at about $40,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 3.8 %

CSGP stock opened at $76.87 on Wednesday. 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 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market capitalization of $31.53 billion, a P/E ratio of 219.63 and a beta of 0.93. The business has a fifty day moving average price of $74.99 and a 200-day moving average price of $75.66.

CoStar Group (NASDAQ:CSGP) last issued 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 business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. Equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has approved a share buyback plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CSGP. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Citigroup reduced their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Finally, Wells Fargo & Company decreased their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.07.

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.