Personal CFO Solutions LLC Purchases 6,979 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Personal CFO Solutions LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 261.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,653 shares of the technology company’s stock after purchasing an additional 6,979 shares during the period. Personal CFO Solutions LLC’s holdings in CoStar Group were worth $691,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of CoStar Group by 4.4% during the third 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 last quarter. Geode Capital Management LLC boosted its position in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CoStar Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock valued at $201,758,000 after buying an additional 133,876 shares during the period. Amundi grew its position in shares of CoStar Group by 30.1% during the 4th quarter. Amundi now owns 2,810,540 shares of the technology company’s stock valued at $200,504,000 after acquiring an additional 650,454 shares during the period. Finally, JPMorgan Chase & Co. lifted its position 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 valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSGP. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Stock Up 3.3 %

CSGP opened at $79.39 on Monday. The stock has a market capitalization of $32.56 billion, a P/E ratio of 226.83 and a beta of 0.93. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The business’s 50-day simple moving average is $74.73 and its 200-day simple moving average is $75.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $703.00 million. Analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.