Motley Fool Asset Management LLC Has $5.64 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Motley Fool Asset Management LLC increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 24.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,530 shares of the technology company’s stock after acquiring an additional 14,829 shares during the quarter. Motley Fool Asset Management LLC’s holdings in CoStar Group were worth $5,638,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CSGP. CX Institutional grew its position in CoStar Group by 4.0% during the 2nd quarter. CX Institutional now owns 33,397 shares of the technology company’s stock worth $2,476,000 after purchasing an additional 1,275 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of CoStar Group by 15.3% in the second quarter. QRG Capital Management Inc. now owns 18,710 shares of the technology company’s stock worth $1,387,000 after buying an additional 2,488 shares during the period. Gateway Investment Advisers LLC grew its holdings in shares of CoStar Group by 31.1% during the second quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock valued at $3,005,000 after buying an additional 9,618 shares in the last quarter. Czech National Bank raised its position in CoStar Group by 8.3% during the second quarter. Czech National Bank now owns 77,813 shares of the technology company’s stock valued at $5,769,000 after buying an additional 5,962 shares during the period. Finally, Artemis Investment Management LLP lifted its stake in CoStar Group by 44.4% in the 2nd quarter. Artemis Investment Management LLP now owns 556,931 shares of the technology company’s stock worth $41,291,000 after acquiring an additional 171,189 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CSGP shares. Citigroup lowered 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. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. 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. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Up 0.1 %

Shares of CSGP stock opened at $80.15 on Wednesday. The company has a market capitalization of $32.86 billion, a price-to-earnings ratio of 182.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock’s 50 day simple moving average is $75.99 and its 200 day simple moving average is $76.39. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data 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 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 previous year, the company earned $0.25 earnings per share. CoStar Group’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at CoStar Group

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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

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.