National Pension Service Increases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

National Pension Service raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,020,943 shares of the technology company’s stock after buying an additional 6,826 shares during the period. National Pension Service owned approximately 0.25% of CoStar Group worth $77,020,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new position in CoStar Group in the first quarter valued at $31,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group in the 2nd quarter valued at about $49,000. Covestor Ltd boosted its stake in shares of CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after buying an additional 211 shares during the period. Quarry LP acquired a new position in shares of CoStar Group during the second quarter worth about $54,000. Finally, Rothschild Investment LLC purchased a new stake in shares of CoStar Group during the second quarter worth approximately $73,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In related news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance bought 14,731 shares of the business’s 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 purchase, the chief executive officer now owns 1,263,098 shares in the company, 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. Company insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSGP. Keefe, Bruyette & Woods decreased their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. The Goldman Sachs Group dropped their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report 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 for the company in a report on Wednesday, October 23rd. Finally, Robert W. Baird lowered their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $75.34 on Wednesday. The stock has a market capitalization of $30.89 billion, a price-to-earnings ratio of 171.23 and a beta of 0.82. The firm’s fifty day simple moving average is $76.11 and its 200-day simple moving average is $78.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating 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 business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current 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.