AE Wealth Management LLC Lowers Position in CoStar Group, Inc. (NASDAQ:CSGP)

Posted by Defense World Staff on Jun 28th, 2023

AE Wealth Management LLC decreased its position in CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,693 shares of the technology company’s stock after selling 4,633 shares during the period. AE Wealth Management LLC’s holdings in CoStar Group were worth $12,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of CoStar Group in the fourth quarter valued at about $25,000. Castleview Partners LLC boosted its holdings in shares of CoStar Group by 72.8% in the fourth quarter. Castleview Partners LLC now owns 368 shares of the technology company’s stock valued at $28,000 after acquiring an additional 155 shares in the last quarter. FourThought Financial LLC boosted its holdings in shares of CoStar Group by 232.3% in the third quarter. FourThought Financial LLC now owns 432 shares of the technology company’s stock valued at $30,000 after acquiring an additional 302 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of CoStar Group in the fourth quarter valued at about $30,000. Finally, CVA Family Office LLC boosted its holdings in shares of CoStar Group by 43.4% in the third quarter. CVA Family Office LLC now owns 545 shares of the technology company’s stock valued at $38,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Insider Activity

In other news, CFO Scott T. Wheeler sold 24,670 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.68, for a total value of $1,990,375.60. Following the completion of the transaction, the chief financial officer now owns 346,244 shares of the company’s stock, valued at $27,934,965.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CSGP shares. StockNews.com started coverage on shares of CoStar Group in a report on Thursday, May 18th. They set a “hold” rating on the stock. Needham & Company LLC boosted their price objective on shares of CoStar Group from $80.00 to $90.00 in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.08.

CoStar Group Stock Performance

Shares of CSGP opened at $89.92 on Wednesday. The company has a current ratio of 13.21, a quick ratio of 13.21 and a debt-to-equity ratio of 0.14. The stock has a market cap of $36.74 billion, a P/E ratio of 98.81, a PEG ratio of 4.11 and a beta of 0.88. The company has a 50-day moving average of $78.47 and a two-hundred day moving average of $75.57. CoStar Group, Inc. has a 12-month low of $57.54 and a 12-month high of $90.15.

CoStar Group (NASDAQ:CSGP – Get Rating) last announced its earnings results on Tuesday, April 25th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $584.37 million during the quarter, compared to analysts’ expectations of $579.36 million. CoStar Group had a net margin of 16.32% and a return on equity of 6.73%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, research analysts predict that CoStar Group, Inc. will post 1.07 EPS for the current fiscal year.

About CoStar Group

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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.