CoStar Group, Inc. (NASDAQ:CSGP) Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,310 shares of the technology company’s stock after purchasing an additional 11,858 shares during the period. PNC Financial Services Group Inc.’s holdings in CoStar Group were worth $8,242,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in shares of CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in CoStar Group in the fourth quarter worth about $37,000. CVA Family Office LLC bought a new position in CoStar Group in the fourth quarter worth about $60,000. KB Financial Partners LLC lifted its holdings in CoStar Group by 17.9% in the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock worth $63,000 after acquiring an additional 124 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in CoStar Group by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock worth $107,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 directly owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly 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. 1.57% of the stock is currently owned by insiders.

CoStar Group Price Performance

NASDAQ CSGP opened at $85.69 on Friday. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. 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 has a market capitalization of $34.99 billion, a PE ratio of 117.38, a P/E/G ratio of 12.98 and a beta of 0.84. The company’s 50 day simple moving average is $91.16 and its 200 day simple moving average is $86.55.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America raised their target price on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Stephens reissued an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Needham & Company LLC raised their price target on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, BMO Capital Markets raised 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. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $102.46.

CoStar Group Company 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.