Sequoia Financial Advisors LLC Raises Position in CoStar Group, Inc. (NASDAQ:CSGP)

Sequoia Financial Advisors LLC boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 31.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,763 shares of the technology company’s stock after buying an additional 2,328 shares during the period. Sequoia Financial Advisors LLC’s holdings in CoStar Group were worth $699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CSGP. ORG Partners LLC lifted 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 buying an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake 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 valued at $37,000 after purchasing an additional 513 shares in the last quarter. Finally, Centricity Wealth Management LLC bought a new position in shares of CoStar Group during the fourth quarter valued at approximately $40,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’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 completion of the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP opened at $80.15 on Tuesday. The firm has a market cap of $32.87 billion, a PE ratio of 229.00 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $75.50 and a two-hundred day simple moving average of $75.68. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

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

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSGP shares. 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 note on Wednesday, February 19th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Citigroup decreased their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. The Goldman Sachs Group started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. Finally, William Blair began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “market perform” rating for the company. Two equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.