CoStar Group, Inc. (NASDAQ:CSGP) Stake Boosted by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 106.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,530 shares of the technology company’s stock after purchasing an additional 3,367 shares during the quarter. Summit Trail Advisors LLC’s holdings in CoStar Group were worth $493,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the third quarter worth $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in CoStar Group in the second quarter worth $49,000. Quarry LP bought a new position in CoStar Group during the second quarter valued at about $54,000. Rothschild Investment LLC bought a new position in CoStar Group during the second quarter valued at about $73,000. Finally, Blue Trust Inc. boosted its stake in 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 buying an additional 898 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Down 0.4 %

CSGP opened at $79.92 on Wednesday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The business has a 50-day moving average of $75.62 and a 200-day moving average of $76.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company has a market capitalization of $32.76 billion, a PE ratio of 181.64 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last posted 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 the consensus estimate of $695.91 million. During the same period last year, the business earned $0.25 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the firm’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 value of $5,350,268.77. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost 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 in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSGP. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Tuesday, November 19th. BMO Capital Markets decreased their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

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.