Citigroup Inc. Buys 37,113 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Citigroup Inc. raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 729,730 shares of the technology company’s stock after purchasing an additional 37,113 shares during the quarter. Citigroup Inc. owned 0.18% of CoStar Group worth $55,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in CoStar Group during the third quarter valued at approximately $40,000. Swedbank AB purchased a new position in shares of CoStar Group during the first quarter worth approximately $4,223,000. Gateway Investment Advisers LLC raised its stake 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 worth $3,005,000 after acquiring an additional 9,618 shares in the last quarter. First Hawaiian Bank raised its stake in shares of CoStar Group by 111.9% during the second quarter. First Hawaiian Bank now owns 16,726 shares of the technology company’s stock worth $1,240,000 after acquiring an additional 8,833 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CoStar Group by 2.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 974,084 shares of the technology company’s stock worth $73,485,000 after acquiring an additional 23,825 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $5,350,268.77. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $79.81 on Friday. The stock has a market cap of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82. The firm’s 50-day moving average is $75.49 and its 200 day moving average is $76.88. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

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

Analysts Set New Price Targets

Several research analysts have commented on CSGP shares. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. 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 assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average target price 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.