Harvest Fund Management Co. Ltd Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Harvest Fund Management Co. Ltd grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 100.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,007 shares of the technology company’s stock after purchasing an additional 1,007 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CoStar Group were worth $179,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of CoStar Group by 11.1% in the first quarter. Handelsbanken Fonder AB now owns 167,611 shares of the technology company’s stock valued at $11,540,000 after acquiring an additional 16,712 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of CoStar Group by 0.6% in the first quarter. Treasurer of the State of North Carolina now owns 182,024 shares of the technology company’s stock valued at $12,532,000 after acquiring an additional 1,120 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of CoStar Group by 4.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,785 shares of the technology company’s stock valued at $261,000 after buying an additional 178 shares during the period. Aigen Investment Management LP acquired a new stake in shares of CoStar Group in the 4th quarter valued at approximately $750,000. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of CoStar Group by 25.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 15,657 shares of the technology company’s stock valued at $1,100,000 after buying an additional 3,220 shares during the period. Institutional investors and hedge funds own 96.53% of the company’s stock.

CoStar Group Stock Down 1.9 %

Shares of NASDAQ:CSGP opened at $79.12 on Friday. The company has a market capitalization of $32.31 billion, a P/E ratio of 83.29, a P/E/G ratio of 3.71 and a beta of 0.89. The stock’s fifty day simple moving average is $83.54 and its 200-day simple moving average is $78.20. CoStar Group, Inc. has a 52-week low of $65.12 and a 52-week high of $92.36. The company has a quick ratio of 12.30, a current ratio of 12.30 and a debt-to-equity ratio of 0.14.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, July 25th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $605.91 million for the quarter, compared to analyst estimates of $607.49 million. CoStar Group had a net margin of 16.56% and a return on equity of 6.61%. As a group, equities research analysts forecast that CoStar Group, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CSGP has been the subject of several recent analyst reports. Bank of America reduced their price target on CoStar Group from $104.00 to $101.00 in a report on Wednesday, July 26th. StockNews.com began coverage on shares of CoStar Group in a report on Thursday, August 17th. They issued a “hold” rating for the company. Royal Bank of Canada upped their price target on CoStar Group from $85.00 to $95.00 in a report on Thursday, July 6th. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday, July 26th. Finally, Robert W. Baird lowered their price target on CoStar Group from $100.00 to $98.00 in a report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.64.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, VP Lisa Ruggles sold 30,474 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $91.42, for a total value of $2,785,933.08. Following the transaction, the vice president now directly owns 156,208 shares in the company, valued at approximately $14,280,535.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CoStar Group news, CFO Scott T. Wheeler sold 21,530 shares of CoStar Group stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $89.30, for a total value of $1,922,629.00. Following the completion of the sale, the chief financial officer now owns 324,714 shares in the company, valued at approximately $28,996,960.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lisa Ruggles sold 30,474 shares of CoStar Group stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $91.42, for a total value of $2,785,933.08. Following the completion of the sale, the vice president now owns 156,208 shares of the company’s stock, valued at approximately $14,280,535.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,804 shares of company stock worth $13,113,112. Corporate insiders own 1.58% of the company’s stock.

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.