SRS Capital Advisors Inc. Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

SRS Capital Advisors Inc. raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.3% during the 4th quarter, Holdings Channel reports. The fund owned 8,159 shares of the technology company’s stock after purchasing an additional 410 shares during the period. SRS Capital Advisors Inc.’s holdings in CoStar Group were worth $713,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG increased its position in shares of CoStar Group by 37.1% during the 3rd quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after purchasing an additional 200,183 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock valued at $312,000 after acquiring an additional 376 shares during the last quarter. Simplicity Solutions LLC grew its position in CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock valued at $697,000 after acquiring an additional 431 shares during the last quarter. abrdn plc grew its position in CoStar Group by 69.8% in the 4th quarter. abrdn plc now owns 169,683 shares of the technology company’s stock valued at $14,829,000 after acquiring an additional 69,744 shares during the last quarter. Finally, Harbor Advisors LLC grew its position in CoStar Group by 69.6% in the 4th quarter. Harbor Advisors LLC now owns 17,060 shares of the technology company’s stock valued at $1,491,000 after acquiring an additional 7,000 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America upped their price objective on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Robert W. Baird increased their price target on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Citigroup increased their price target on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods increased their price target on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price target on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $102.46.

Insider Buying and Selling

In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by company insiders.

CoStar Group Price Performance

CSGP stock traded up $1.47 during trading on Friday, hitting $91.23. The stock had a trading volume of 1,244,623 shares, compared to its average volume of 2,180,625. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company’s 50-day moving average price is $90.47 and its two-hundred day moving average price is $85.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. The stock has a market capitalization of $37.25 billion, a P/E ratio of 124.97, a PEG ratio of 10.11 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, research analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

CoStar Group Company 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.