Perfromance Wealth Partners LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Perfromance Wealth Partners LLC bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,859 shares of the technology company’s stock, valued at approximately $205,000.

Several other institutional investors have also recently made changes to their positions in CSGP. ORG Partners LLC lifted its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the third quarter valued at about $40,000. Quarry LP bought a new position in shares of CoStar Group during the second quarter valued at about $54,000. Brooklyn Investment Group bought a new position in shares of CoStar Group during the third quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group during the second quarter valued at about $104,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.92.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $74.16 on Wednesday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a 50 day simple moving average of $74.63 and a two-hundred day simple moving average of $75.35. The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 168.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.