Charles Schwab Investment Management Inc. Purchases 76,916 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Charles Schwab Investment Management Inc. grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,684,373 shares of the technology company’s stock after acquiring an additional 76,916 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of CoStar Group worth $202,509,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Janus Henderson Group PLC grew its holdings in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after acquiring an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC increased its position in CoStar Group by 90.1% in the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after purchasing an additional 1,961,917 shares during the period. Mackenzie Financial Corp raised its holdings in CoStar Group by 16.9% during the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after purchasing an additional 341,046 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of CoStar Group by 0.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,950,417 shares of the technology company’s stock valued at $144,604,000 after purchasing an additional 9,907 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were 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 owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CSGP shares. BMO Capital Markets dropped their target price on shares of 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. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Finally, Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

CSGP opened at $79.81 on Friday. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82. The business’s 50-day moving average price is $75.49 and its two-hundred day moving average price 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 earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

CoStar Group 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.