Clearbridge Investments LLC Boosts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Clearbridge Investments LLC lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.2% in the first quarter, Holdings Channel reports. The institutional investor owned 522,077 shares of the technology company’s stock after acquiring an additional 1,038 shares during the quarter. Clearbridge Investments LLC’s holdings in CoStar Group were worth $50,433,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CSGP. Blue Trust Inc. boosted its stake in 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 buying an additional 173 shares during the period. Riverview Trust Co acquired a new stake in CoStar Group in the 1st quarter valued at approximately $35,000. Pinnacle Bancorp Inc. purchased a new stake in CoStar Group in the fourth quarter valued at approximately $37,000. RiverPark Advisors LLC purchased a new stake in CoStar Group in the first quarter valued at approximately $37,000. Finally, Connectus Wealth LLC lifted its stake in CoStar Group by 915.0% during the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSGP. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a report on Tuesday, June 18th. Needham & Company LLC boosted their price target on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating 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 stock a “market perform” rating in a research report on Thursday, April 25th. Jefferies Financial Group raised their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, Bank of America cut their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday. Four equities research 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, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $100.08.

CoStar Group Stock Down 0.9 %

Shares of NASDAQ:CSGP traded down $0.67 during trading hours on Tuesday, reaching $74.84. The stock had a trading volume of 3,548,925 shares, compared to its average volume of 2,271,220. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The firm’s 50 day moving average is $77.44 and its 200-day moving average is $84.11. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 102.52, a P/E/G ratio of 11.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. Research analysts predict that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael J. Desmarais sold 3,800 shares of the company’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 value 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 $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction 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 sale, the insider now directly owns 64,087 shares in the company, valued at approximately $5,938,942.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of the business’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 completion of the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

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.