CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 25.9% during the third quarter, HoldingsChannel reports. The firm owned 71,485 shares of the technology company’s stock after purchasing an additional 14,686 shares during the quarter. Public Sector Pension Investment Board’s holdings in CoStar Group were worth $5,393,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in CoStar Group during the third quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new position in CoStar Group in the second quarter valued at about $49,000. Quarry LP acquired a new stake in shares of CoStar Group during the second quarter worth approximately $54,000. Rothschild Investment LLC acquired a new position in CoStar Group during the 2nd quarter worth $73,000. Finally, Blue Trust Inc. increased its holdings in CoStar Group by 493.4% in 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 during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Down 0.8 %

Shares of CoStar Group stock opened at $81.34 on Monday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a market cap of $33.35 billion, a P/E ratio of 184.87 and a beta of 0.82. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $75.86 and a 200 day moving average price of $76.50.

CoStar Group (NASDAQ:CSGP) last posted 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. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSGP. JPMorgan Chase & Co. lowered their target price on shares of 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 restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Citigroup dropped 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 report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Tuesday, November 19th. Finally, BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

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.