Jones Financial Companies Lllp Purchases 451 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Jones Financial Companies Lllp lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 51.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,321 shares of the technology company’s stock after purchasing an additional 451 shares during the period. Jones Financial Companies Lllp’s holdings in CoStar Group were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSGP. Barclays PLC raised its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. State Street Corp raised its stake in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of CoStar Group during the 3rd quarter worth approximately $48,768,000. Finally, Icon Wealth Advisors LLC raised its stake in shares of CoStar Group by 8,314.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock worth $30,925,000 after purchasing an additional 405,062 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CSGP shares. The Goldman Sachs Group started coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Wells Fargo & Company dropped their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Stephens restated an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. 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 company has an average rating of “Moderate Buy” and a consensus target price of $88.07.

Insider Transactions at CoStar Group

In other 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 transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by insiders.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $78.73 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The stock’s fifty day moving average price is $75.32 and its two-hundred day moving average price is $75.66. CoStar Group, Inc. has a one year low of $68.26 and a one year 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 issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 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 firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. On average, equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.