JPMorgan Chase & Co. raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 261.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 309,290 shares of the technology company's stock after buying an additional 223,705 shares during the period. JPMorgan Chase & Co. owned about 0.08% of CoStar Group worth $18,684,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. Select Equity Group L.P. boosted its holdings in CoStar Group by 204.3% in the 1st quarter. Select Equity Group L.P. now owns 6,362,625 shares of the technology company's stock worth $423,814,000 after buying an additional 4,271,849 shares during the last quarter. Parnassus Investments LLC boosted its holdings in CoStar Group by 38.2% in the 1st quarter. Parnassus Investments LLC now owns 8,318,337 shares of the technology company's stock worth $554,084,000 after buying an additional 2,300,462 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of CoStar Group by 343.8% during the 1st quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company's stock worth $194,074,000 after purchasing an additional 2,257,140 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CoStar Group by 12.3% during the 1st quarter. Principal Financial Group Inc. now owns 18,742,336 shares of the technology company's stock worth $1,248,427,000 after purchasing an additional 2,055,607 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of CoStar Group by 212.0% during the 1st quarter. American Century Companies Inc. now owns 2,819,388 shares of the technology company's stock worth $187,799,000 after purchasing an additional 1,915,752 shares during the last quarter. 95.29% of the stock is currently owned by institutional investors and hedge funds.
Get CoStar Group alerts:Wall Street Analyst Weigh In
Several analysts have recently commented on CSGP shares. Stephens lifted their price target on shares of CoStar Group from $84.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, October 25th. BMO Capital Markets initiated coverage on shares of CoStar Group in a research note on Monday, September 12th. They set a "market perform" rating and a $83.00 target price for the company. Royal Bank of Canada upped their price objective on shares of CoStar Group from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday, October 5th. The Goldman Sachs Group upped their target price on shares of CoStar Group from $92.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, October 26th. Finally, Robert W. Baird increased their price target on shares of CoStar Group to $90.00 in a report on Thursday, October 27th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $90.50.
CoStar Group Stock Performance
CSGP stock opened at $81.04 on Thursday. The company has a quick ratio of 15.36, a current ratio of 15.36 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 94.23 and a beta of 0.92. CoStar Group, Inc. has a 12 month low of $49.00 and a 12 month high of $85.37. The firm has a 50 day moving average of $76.32 and a two-hundred day moving average of $69.26.Insider Transactions at CoStar Group
In related news, insider Michael J. Desmarais sold 1,296 shares of the company's stock in a transaction on Friday, October 28th. The shares were sold at an average price of $82.81, for a total transaction of $107,321.76. Following the completion of the transaction, the insider now directly owns 36,900 shares in the company, valued at approximately $3,055,689. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael J. Desmarais sold 1,296 shares of the stock in a transaction on Friday, October 28th. The shares were 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 in the company, valued at approximately $3,055,689. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John W. Hill sold 3,650 shares of the stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $78.92, for a total transaction of $288,058.00. Following the completion of the transaction, the director now 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 owned by corporate insiders.
CoStar Group Company Profile
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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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