Moran Wealth Management LLC Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Moran Wealth Management LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,027 shares of the technology company’s stock after buying an additional 161 shares during the period. Moran Wealth Management LLC’s holdings in CoStar Group were worth $606,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the third quarter worth about $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter worth approximately $49,000. Quarry LP bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $54,000. Rothschild Investment LLC purchased a new position in shares of CoStar Group during the second quarter valued at approximately $73,000. Finally, Blue Trust Inc. raised its holdings in shares of CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after acquiring an additional 898 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup lowered their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Activity at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were 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 of the company’s stock, valued at approximately $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 corporate insiders.

CoStar Group Stock Performance

Shares of CSGP opened at $79.81 on Friday. The business has a 50-day simple moving average of $75.49 and a two-hundred day simple moving average of $76.99. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market cap of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that CoStar Group, Inc. will post 0.52 EPS 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.