Baker Tilly Wealth Management LLC Has $557,000 Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Baker Tilly Wealth Management LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 18.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,777 shares of the technology company’s stock after purchasing an additional 1,224 shares during the period. Baker Tilly Wealth Management LLC’s holdings in CoStar Group were worth $557,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vulcan Value Partners LLC raised its holdings in CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Barclays PLC boosted its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares during the period. Select Equity Group L.P. purchased a new stake in CoStar Group in the second quarter worth $60,761,000. Finally, State Street Corp increased its position in shares of CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 2.2 %

Shares of NASDAQ CSGP traded down $1.54 during mid-day trading on Friday, reaching $69.80. 641,061 shares of the company traded hands, compared to its average volume of 1,846,026. The company’s fifty day moving average is $75.09 and its two-hundred day moving average is $75.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market cap of $28.62 billion, a PE ratio of 158.64 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last released 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 during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. On average, analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have commented on CSGP. Stephens reissued an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Thursday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. BMO Capital Markets dropped their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.08.

About CoStar Group

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.