China Universal Asset Management Co. Ltd. raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 111.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,198 shares of the technology company’s stock after buying an additional 2,742 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in CoStar Group were worth $392,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vulcan Value Partners LLC boosted its stake in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after acquiring an additional 1,961,917 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Select Equity Group L.P. acquired a new stake in shares of CoStar Group during the 2nd quarter worth about $60,761,000. Renaissance Technologies LLC purchased a new stake in shares of CoStar Group during the second quarter worth about $46,692,000. Finally, Vanguard Group Inc. raised its position in shares of CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after buying an additional 541,700 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on CSGP. Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Needham & Company LLC decreased their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.
Insider Buying and Selling at CoStar Group
In other news, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.
CoStar Group Stock Performance
NASDAQ:CSGP opened at $73.46 on Thursday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market capitalization of $30.12 billion, a price-to-earnings ratio of 166.96 and a beta of 0.81. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $76.37 and its 200 day simple moving average is $78.54.
CoStar Group (NASDAQ:CSGP – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.
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.
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