CoStar Group Inc (NASDAQ:CSGP) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC raised its position in CoStar Group Inc (NASDAQ:CSGP) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 706 shares of the technology company’s stock after acquiring an additional 20 shares during the quarter. Parallel Advisors LLC’s holdings in CoStar Group were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in CoStar Group by 14.4% in the second quarter. BlackRock Inc. now owns 3,531,271 shares of the technology company’s stock valued at $1,956,536,000 after purchasing an additional 445,078 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CoStar Group by 42.4% in the second quarter. JPMorgan Chase & Co. now owns 828,447 shares of the technology company’s stock valued at $449,788,000 after acquiring an additional 246,705 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of CoStar Group by 21.7% in the second quarter. Baillie Gifford & Co. now owns 395,328 shares of the technology company’s stock valued at $219,035,000 after acquiring an additional 70,439 shares in the last quarter. Bank of America Corp DE lifted its position in shares of CoStar Group by 13.7% in the second quarter. Bank of America Corp DE now owns 359,259 shares of the technology company’s stock valued at $199,050,000 after acquiring an additional 43,422 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of CoStar Group in the second quarter valued at $146,377,000. 95.10% of the stock is currently owned by institutional investors.

In other news, Director Christopher J. Nassetta sold 406 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $570.99, for a total value of $231,821.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.14% of the stock is currently owned by company insiders.

NASDAQ CSGP traded up $3.47 during trading hours on Friday, hitting $549.31. 194,300 shares of the company’s stock were exchanged, compared to its average volume of 247,089. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $639.41. The firm has a market capitalization of $20.32 billion, a P/E ratio of 74.23, a price-to-earnings-growth ratio of 4.16 and a beta of 1.34. The business’s 50 day moving average is $578.90 and its 200-day moving average is $566.71.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. CoStar Group had a return on equity of 10.55% and a net margin of 23.17%. The business had revenue of $352.81 million during the quarter, compared to analyst estimates of $353.16 million. During the same quarter last year, the firm earned $2.16 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group Inc will post 8.89 EPS for the current fiscal year.

CSGP has been the topic of several recent research reports. Wells Fargo & Co restated a “buy” rating on shares of CoStar Group in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price objective on CoStar Group from $425.00 to $597.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. SunTrust Banks upped their price objective on CoStar Group to $650.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JMP Securities upped their price objective on CoStar Group from $525.00 to $630.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Finally, B. Riley upped their price objective on CoStar Group from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $631.30.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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