SG Americas Securities LLC raised its position in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 482.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,122 shares of the technology company’s stock after acquiring an additional 120,190 shares during the period. SG Americas Securities LLC’s holdings in CoStar Group were worth $12,916,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Cigna Investments Inc. New lifted its position in shares of CoStar Group by 2.7% during the 4th quarter. Cigna Investments Inc. New now owns 4,983 shares of the technology company’s stock worth $385,000 after buying an additional 133 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of CoStar Group by 0.3% during the first quarter. New York Life Investment Management LLC now owns 57,530 shares of the technology company’s stock valued at $3,961,000 after acquiring an additional 147 shares during the period. Coastal Investment Advisors Inc. boosted its stake in shares of CoStar Group by 5.0% in the 4th quarter. Coastal Investment Advisors Inc. now owns 3,176 shares of the technology company’s stock valued at $245,000 after purchasing an additional 151 shares in the last quarter. Quarry LP grew its holdings in shares of CoStar Group by 75.5% in the 1st quarter. Quarry LP now owns 358 shares of the technology company’s stock worth $25,000 after purchasing an additional 154 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of CoStar Group by 3.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 4,831 shares of the technology company’s stock worth $333,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 96.53% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on CSGP. Truist Financial raised their price objective on shares of CoStar Group from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Bank of America cut their price objective on CoStar Group from $104.00 to $101.00 in a research report on Wednesday, July 26th. Royal Bank of Canada boosted their price objective on CoStar Group from $85.00 to $95.00 in a research note on Thursday, July 6th. Needham & Company LLC raised their target price on CoStar Group from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, TheStreet downgraded shares of CoStar Group from a “b” rating to a “c+” rating in a research report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.64.
CoStar Group Trading Down 1.9 %
Shares of NASDAQ CSGP opened at $79.12 on Friday. 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, Inc. has a twelve month low of $65.12 and a twelve month high of $92.36. The company’s fifty day moving average is $83.54 and its 200-day moving average is $78.20. The stock has a market cap of $32.31 billion, a price-to-earnings ratio of 83.29, a P/E/G ratio of 3.71 and a beta of 0.89.
CoStar Group (NASDAQ:CSGP – Get Free Report) last posted 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. CoStar Group had a return on equity of 6.61% and a net margin of 16.56%. The firm had revenue of $605.91 million during the quarter, compared to analysts’ expectations of $607.49 million. Equities research analysts predict that CoStar Group, Inc. will post 1.09 EPS for the current year.
Insider Buying and Selling
In related news, VP Lisa Ruggles sold 30,474 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 156,208 shares of the company’s stock, valued at approximately $14,280,535.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Lisa Ruggles sold 30,474 shares of CoStar Group stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $91.42, for a total value of $2,785,933.08. Following the sale, the vice president now owns 156,208 shares of the company’s stock, valued at approximately $14,280,535.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Scott T. Wheeler sold 21,530 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 324,714 shares of the company’s stock, valued at approximately $28,996,960.20. The disclosure for this sale can be found here. In the last three months, insiders sold 145,804 shares of company stock valued at $13,113,112. 1.58% of the stock is owned by corporate insiders.
CoStar Group 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.
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