SlateStone Wealth LLC Has $2.11 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

SlateStone Wealth LLC boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,417 shares of the technology company’s stock after purchasing an additional 1,871 shares during the period. SlateStone Wealth LLC’s holdings in CoStar Group were worth $2,106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Moran Wealth Management LLC boosted its position in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP boosted its position in CoStar Group by 9.7% during 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. boosted its position in CoStar Group by 2.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after acquiring an additional 176 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in CoStar Group by 1.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after acquiring an additional 209 shares during the last quarter. Finally, FWG Holdings LLC boosted its position in CoStar Group by 3.5% during the fourth quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock valued at $494,000 after acquiring an additional 219 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

NASDAQ CSGP opened at $78.73 on Friday. The company has a 50-day simple moving average of $75.32 and a two-hundred day simple moving average of $75.66. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93.

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

CoStar Group declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have commented on CSGP shares. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut their price objective 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 set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. Two research 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’s stock. Based on data from MarketBeat, the stock 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.