Sanctuary Advisors LLC Buys 2,422 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sanctuary Advisors LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,900 shares of the technology company’s stock after buying an additional 2,422 shares during the quarter. Sanctuary Advisors LLC’s holdings in CoStar Group were worth $2,211,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC grew its stake in CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after purchasing an additional 76,916 shares during the period. JPMorgan Chase & Co. grew its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the period. Finally, Barclays PLC grew its stake in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $76.79 on Monday. 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 market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. The business’s 50-day moving average price is $73.86 and its 200-day moving average price is $75.44. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

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

CoStar Group declared that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Wednesday, February 19th. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group 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.