Graypoint LLC Takes $234,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Graypoint LLC purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGPFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,264 shares of the technology company’s stock, valued at approximately $234,000.

Several other hedge funds have also made changes to their positions in the company. ORG Partners LLC boosted its position in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Quarry LP purchased a new position in shares of CoStar Group during the 2nd quarter worth approximately $54,000. Brooklyn Investment Group purchased a new position in shares of CoStar Group during the 3rd quarter worth approximately $91,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after purchasing an additional 488 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSGP. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $93.08.

Get Our Latest Report on CoStar Group

CoStar Group Trading Down 2.1 %

Shares of CSGP opened at $69.87 on Monday. The firm’s 50-day moving average is $75.04 and its two-hundred day moving average is $75.42. The firm has a market capitalization of $28.64 billion, a P/E ratio of 158.80 and a beta of 0.85. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGPGet Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same quarter last year, the firm posted $0.25 earnings per share. CoStar Group’s revenue was up 10.9% on a year-over-year basis. On average, research analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction dated 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 owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Profile

(Free Report)

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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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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