CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 52.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 18,878 shares of the technology company’s stock after acquiring an additional 6,517 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CoStar Group were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CSGP. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group during the 2nd quarter valued at $49,000. Quarry LP bought a new stake in CoStar Group during the 2nd quarter valued at $54,000. Rothschild Investment LLC bought a new stake in CoStar Group during the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. raised its stake in CoStar Group by 493.4% during the 2nd 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.

Insider Buying and Selling

In related news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction dated 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 in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the 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 purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSGP. Citigroup cut their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets cut their target price on 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, JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Price Performance

CSGP opened at $80.28 on Tuesday. The stock has a market cap of $32.91 billion, a price-to-earnings ratio of 182.45 and a beta of 0.82. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. 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 stock has a fifty day moving average price of $75.54 and a 200 day moving average price of $76.71.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.