Axxcess Wealth Management LLC Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Axxcess Wealth Management LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,775 shares of the technology company’s stock after purchasing an additional 123 shares during the period. Axxcess Wealth Management LLC’s holdings in CoStar Group were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Commonwealth Equity Services LLC grew its stake in CoStar Group by 2.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 25,340 shares of the technology company’s stock valued at $1,948,000 after acquiring an additional 552 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CoStar Group by 5.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,165 shares of the technology company’s stock valued at $5,395,000 after buying an additional 3,571 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CoStar Group by 18.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 442,963 shares of the technology company’s stock valued at $34,059,000 after buying an additional 68,501 shares during the period. Advisor Partners II LLC grew its stake in shares of CoStar Group by 21.4% in the 3rd quarter. Advisor Partners II LLC now owns 6,773 shares of the technology company’s stock valued at $521,000 after buying an additional 1,196 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of CoStar Group by 0.9% in the 3rd quarter. TD Asset Management Inc now owns 688,764 shares of the technology company’s stock valued at $52,959,000 after buying an additional 6,061 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the sale, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a research note on Wednesday, April 24th. BMO Capital Markets increased their price target on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Royal Bank of Canada upped their price objective on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Needham & Company LLC increased their target price on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group increased their target price on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Trading Up 1.1 %

NASDAQ CSGP opened at $91.34 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. The firm’s fifty day moving average price is $90.98 and its 200 day moving average price is $85.48. The company has a market capitalization of $37.30 billion, a price-to-earnings ratio of 125.12, a price-to-earnings-growth ratio of 10.21 and a beta of 0.84. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same period last year, the firm posted $0.35 EPS. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

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.