PNC Financial Services Group Inc. Purchases 11,858 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

PNC Financial Services Group Inc. grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 94,310 shares of the technology company’s stock after acquiring an additional 11,858 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CoStar Group were worth $8,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Benjamin F. Edwards & Company Inc. increased its stake in shares of CoStar Group by 1,393.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 11,373 shares in the last quarter. Deutsche Bank AG increased its stake in CoStar Group by 37.1% in the 3rd quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after buying an additional 200,183 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after buying an additional 376 shares in the last quarter. Simplicity Solutions LLC increased its stake in CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after buying an additional 431 shares in the last quarter. Finally, LGT Group Foundation increased its stake in CoStar Group by 45.2% in the 4th quarter. LGT Group Foundation now owns 59,237 shares of the technology company’s stock worth $5,213,000 after buying an additional 18,442 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CSGP shares. The Goldman Sachs Group increased their price target on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Citigroup raised their price objective on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Finally, Robert W. Baird raised their price objective on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Stock Down 1.7 %

Shares of NASDAQ:CSGP opened at $85.69 on Friday. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 117.38, a PEG ratio of 12.98 and a beta of 0.84. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The company has a 50-day moving average price of $91.16 and a 200 day moving average price of $86.55.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. As a group, equities research analysts predict that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

About CoStar Group

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.