Kestra Advisory Services LLC Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Posted by on Apr 21st, 2023

Kestra Advisory Services LLC boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 56.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,567 shares of the technology company’s stock after purchasing an additional 10,715 shares during the period. Kestra Advisory Services LLC’s holdings in CoStar Group were worth $2,285,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ieq Capital LLC lifted its position in CoStar Group by 2.6% in the third quarter. Ieq Capital LLC now owns 5,798 shares of the technology company’s stock valued at $404,000 after acquiring an additional 148 shares during the last quarter. Optas LLC grew its position in CoStar Group by 1.7% during the third quarter. Optas LLC now owns 9,698 shares of the technology company’s stock worth $675,000 after buying an additional 163 shares during the period. CVA Family Office LLC grew its position in CoStar Group by 43.4% during the third quarter. CVA Family Office LLC now owns 545 shares of the technology company’s stock worth $38,000 after buying an additional 165 shares during the period. Lindbrook Capital LLC grew its position in CoStar Group by 31.5% during the fourth quarter. Lindbrook Capital LLC now owns 726 shares of the technology company’s stock worth $56,000 after buying an additional 174 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of CoStar Group by 8.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,093 shares of the technology company’s stock worth $216,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $69.01 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.92 and a quick ratio of 13.92. CoStar Group, Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $85.37. The firm has a fifty day moving average price of $70.22 and a two-hundred day moving average price of $75.38. The company has a market cap of $28.07 billion, a PE ratio of 74.20, a price-to-earnings-growth ratio of 3.76 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP – Get Rating) last announced its earnings results on Tuesday, February 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $573.35 million during the quarter, compared to analysts’ expectations of $567.96 million. CoStar Group had a net margin of 16.93% and a return on equity of 7.15%. Analysts expect that CoStar Group, Inc. will post 0.93 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,600 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $70.36, for a total transaction of $394,016.00. Following the transaction, the insider now directly owns 44,846 shares in the company, valued at $3,155,364.56. The sale was disclosed in a filing with the SEC, which is available through this link. 1.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CSGP. BMO Capital Markets lowered their target price on shares of CoStar Group from $84.00 to $68.00 and set a “market perform” rating for the company in a research note on Wednesday, February 22nd. Stephens reduced their target price on shares of CoStar Group from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Needham & Company LLC dropped their price target on shares of CoStar Group from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Truist Financial dropped their price target on shares of CoStar Group from $95.00 to $85.00 in a research note on Wednesday, February 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a research report on Wednesday, February 22nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average target price of $86.25.

CoStar Group Company Profile

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CoStar Group, Inc engages in providing online real estate marketplaces, information, and analytics in the commercial and residential property markets. It operates through the North America and International geographical segments. The North America segment includes the Unites States and Canada. The International refers to Europe, Asia-Pacific, and Latin America.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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