Dash Acquisitions Inc. Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Dash Acquisitions Inc. bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 78,438 shares of the technology company’s stock, valued at approximately $5,971,000. CoStar Group makes up approximately 1.3% of Dash Acquisitions Inc.’s portfolio, making the stock its 20th largest position.

Several other large investors have also recently made changes to their positions in CSGP. ORG Partners LLC lifted its position in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group in the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the third quarter worth about $40,000. Finally, CENTRAL TRUST Co increased its holdings in CoStar Group by 1,825.5% in the 4th quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after buying an additional 931 shares during the period. 96.60% of the stock is owned by institutional investors.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is owned by corporate insiders.

CoStar Group Stock Up 5.0 %

CSGP stock opened at $79.21 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a 50-day moving average of $73.79 and a two-hundred day moving average of $75.34. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 226.31 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.13%. The firm had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in 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 often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CSGP shares. BMO Capital Markets reduced their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Needham & Company LLC decreased their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

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.