Bellwether Advisors LLC Buys Shares of 7,345 CoStar Group, Inc. (NASDAQ:CSGP)

Bellwether Advisors LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,345 shares of the technology company’s stock, valued at approximately $554,000.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after acquiring an additional 135 shares in the last quarter. Bleakley Financial Group LLC increased its position in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its stake in CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in CoStar Group by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after buying an additional 188 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in CoStar Group by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company’s stock valued at $2,600,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the 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 transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP opened at $72.09 on Wednesday. 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 $75.56 and its two-hundred day simple moving average is $77.08. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a market capitalization of $29.55 billion, a P/E ratio of 163.84 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million for 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 firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Citigroup dropped their target price on 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. reduced their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.