Venturi Wealth Management LLC Purchases 416 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Venturi Wealth Management LLC grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,406 shares of the technology company’s stock after acquiring an additional 416 shares during the period. Venturi Wealth Management LLC’s holdings in CoStar Group were worth $387,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CSGP. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the third quarter valued at approximately $40,000. JPMorgan Chase & Co. lifted its position in CoStar Group by 73.8% during the third 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 during the period. Telemark Asset Management LLC boosted its holdings in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after buying an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after buying an additional 14,468 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of CoStar Group in the 3rd quarter worth about $621,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $78.35 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 223.84 and a beta of 0.87. The business has a 50-day simple moving average of $73.82 and a two-hundred day simple moving average of $75.37. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

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

CoStar Group declared that its board has initiated a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CSGP shares. BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC dropped their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.57% of the company’s stock.

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.