Raymond James Financial Services Advisors Inc. boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,667 shares of the technology company's stock after purchasing an additional 633 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in CoStar Group were worth $534,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in CoStar Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company's stock worth $2,315,223,000 after purchasing an additional 204,955 shares during the period. Principal Financial Group Inc. boosted its position in shares of CoStar Group by 7.6% in the second quarter. Principal Financial Group Inc. now owns 20,166,548 shares of the technology company's stock valued at $1,218,260,000 after acquiring an additional 1,424,212 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of CoStar Group by 7.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,965,881 shares of the technology company's stock valued at $602,039,000 after acquiring an additional 649,193 shares during the period. Parnassus Investments LLC boosted its position in shares of CoStar Group by 1.6% in the second quarter. Parnassus Investments LLC now owns 8,449,885 shares of the technology company's stock valued at $510,458,000 after acquiring an additional 131,548 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of CoStar Group by 2.2% in the second quarter. Macquarie Group Ltd. now owns 8,429,294 shares of the technology company's stock valued at $509,214,000 after acquiring an additional 180,066 shares during the period. 97.80% of the stock is owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of CoStar Group from $75.00 to $95.00 in a research report on Wednesday, October 26th. Robert W. Baird boosted their target price on shares of CoStar Group to $90.00 in a research report on Thursday, October 27th. Bank of America reaffirmed a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a research report on Friday, November 18th. StockNews.com started coverage on shares of CoStar Group in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Finally, Needham & Company LLC upped their price objective on shares of CoStar Group from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $90.75.
CoStar Group Stock Down 1.6 %
Shares of NASDAQ CSGP opened at $77.37 on Thursday. The company has a current ratio of 15.36, a quick ratio of 15.36 and a debt-to-equity ratio of 0.15. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 89.97, a PEG ratio of 3.22 and a beta of 0.90. CoStar Group, Inc. has a 12 month low of $49.00 and a 12 month high of $85.37. The stock has a 50-day moving average price of $79.08 and a two-hundred day moving average price of $74.79.
CoStar Group (NASDAQ:CSGP – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. CoStar Group had a return on equity of 7.26% and a net margin of 15.97%. The company had revenue of $556.92 million during the quarter, compared to the consensus estimate of $554.97 million. As a group, analysts forecast that CoStar Group, Inc. will post 1.1 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Michael J. Desmarais sold 1,296 shares of the company's stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.81, for a total value of $107,321.76. Following the completion of the transaction, the insider now owns 36,900 shares of the company's stock, valued at $3,055,689. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michael J. Desmarais sold 1,296 shares of the company's stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.81, for a total value of $107,321.76. Following the completion of the transaction, the insider now owns 36,900 shares of the company's stock, valued at $3,055,689. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Hill sold 3,650 shares of the company's stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $78.92, for a total value of $288,058.00. Following the completion of the transaction, the director now directly owns 20,734 shares of the company's stock, valued at approximately $1,636,327.28. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by insiders.
About CoStar Group
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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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.
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