DF Dent & Co. Inc. Acquires 682,984 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

DF Dent & Co. Inc. lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 38.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,456,562 shares of the technology company’s stock after buying an additional 682,984 shares during the quarter. CoStar Group comprises 2.2% of DF Dent & Co. Inc.’s portfolio, making the stock its 14th biggest holding. DF Dent & Co. Inc. owned about 0.60% of CoStar Group worth $175,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in shares of CoStar Group by 101.1% during the third quarter. Cerity Partners LLC now owns 14,553 shares of the technology company’s stock worth $1,098,000 after purchasing an additional 7,317 shares in the last quarter. Townsquare Capital LLC raised its position in CoStar Group by 12.5% in the 3rd quarter. Townsquare Capital LLC now owns 9,359 shares of the technology company’s stock worth $706,000 after purchasing an additional 1,040 shares during the last quarter. Verition Fund Management LLC raised its position in CoStar Group by 57.7% in the 3rd quarter. Verition Fund Management LLC now owns 53,737 shares of the technology company’s stock worth $4,054,000 after purchasing an additional 19,668 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in CoStar Group by 652.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 22,521 shares of the technology company’s stock worth $1,699,000 after buying an additional 19,529 shares in the last quarter. Finally, Ascent Group LLC boosted its position in CoStar Group by 8.3% in the 3rd quarter. Ascent Group LLC now owns 7,251 shares of the technology company’s stock valued at $547,000 after buying an additional 554 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In related 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 value of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSGP. The Goldman Sachs Group began coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating on the stock. Piper Sandler started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company cut 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Up 0.9 %

Shares of NASDAQ:CSGP opened at $79.92 on Thursday. The firm has a market cap of $32.78 billion, a price-to-earnings ratio of 228.34 and a beta of 0.93. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $95.71. The company’s fifty day simple moving average is $77.29 and its 200 day simple moving average is $75.82. 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 (NASDAQ:CSGP) last released its 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. The firm had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.