Capital CS Group LLC Acquires New Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Capital CS Group LLC acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,977 shares of the technology company’s stock, valued at approximately $354,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in CoStar Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock valued at $2,315,223,000 after acquiring an additional 204,955 shares in the last quarter. BlackRock Inc. grew its stake in CoStar Group by 0.9% during the first quarter. BlackRock Inc. now owns 31,917,467 shares of the technology company’s stock valued at $2,197,518,000 after acquiring an additional 286,782 shares in the last quarter. Geode Capital Management LLC grew its stake in CoStar Group by 5.4% during the first quarter. Geode Capital Management LLC now owns 9,814,024 shares of the technology company’s stock valued at $674,381,000 after acquiring an additional 500,775 shares in the last quarter. Macquarie Group Ltd. grew its stake in CoStar Group by 9.7% during the first quarter. Macquarie Group Ltd. now owns 8,698,812 shares of the technology company’s stock valued at $598,913,000 after acquiring an additional 770,204 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in CoStar Group by 43.4% during the first quarter. Bank of New York Mellon Corp now owns 5,212,851 shares of the technology company’s stock valued at $358,905,000 after acquiring an additional 1,578,782 shares in the last quarter. Hedge funds and other institutional investors own 96.53% of the company’s stock.

CoStar Group Trading Down 1.9 %

Shares of CSGP opened at $79.12 on Friday. The firm has a market cap of $32.31 billion, a price-to-earnings ratio of 83.28, a PEG ratio of 3.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 12.30 and a current ratio of 12.30. CoStar Group, Inc. has a fifty-two week low of $65.12 and a fifty-two week high of $92.36. The firm has a 50 day moving average price of $83.39 and a 200-day moving average price of $78.31.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CSGP. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, July 26th. Truist Financial lifted their target price on shares of CoStar Group from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Needham & Company LLC lifted their target price on shares of CoStar Group from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Robert W. Baird dropped their target price on shares of CoStar Group from $100.00 to $98.00 in a research report on Wednesday, July 26th. Finally, Royal Bank of Canada lifted their target price on shares of CoStar Group from $85.00 to $95.00 in a research report on Thursday, July 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.64.

Insider Activity at CoStar Group

In related news, CFO Scott T. Wheeler sold 21,530 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $89.30, for a total transaction of $1,922,629.00. Following the completion of the sale, the chief financial officer now directly 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 is available at this link. In other CoStar Group 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 transaction of $2,785,933.08. Following the transaction, the vice president now directly 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 the SEC website. Also, CFO Scott T. Wheeler sold 21,530 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $89.30, for a total transaction of $1,922,629.00. Following the transaction, the chief financial officer now directly owns 324,714 shares in the company, valued at $28,996,960.20. The disclosure for this sale can be found here. Insiders sold 145,804 shares of company stock worth $13,113,112 in the last three months. 1.58% of the stock is owned by 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.