First Foundation Advisors Has $6.52 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

First Foundation Advisors raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 34.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,016 shares of the technology company’s stock after purchasing an additional 23,248 shares during the period. First Foundation Advisors’ holdings in CoStar Group were worth $6,516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group in the fourth quarter valued at $25,000. ORG Partners LLC grew its stake in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group in the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group in the fourth quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after acquiring an additional 402 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 3.7 %

Shares of NASDAQ CSGP opened at $75.79 on Thursday. The firm has a market cap of $31.08 billion, a PE ratio of 216.54 and a beta of 0.88. The company has a 50 day simple moving average of $77.26 and a 200 day simple moving average of $75.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. On average, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSGP. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Piper Sandler assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

About CoStar Group

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.