CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 19.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,349 shares of the technology company’s stock after acquiring an additional 862 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in CoStar Group were worth $404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in CoStar Group by 54.7% in the first quarter. Empowered Funds LLC now owns 6,874 shares of the technology company’s stock valued at $664,000 after buying an additional 2,431 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after purchasing an additional 112 shares during the last quarter. QRG Capital Management Inc. boosted its stake in CoStar Group by 8.2% during the 1st quarter. QRG Capital Management Inc. now owns 16,222 shares of the technology company’s stock worth $1,567,000 after purchasing an additional 1,225 shares during the period. Avantax Advisory Services Inc. purchased a new position in CoStar Group during the 1st quarter worth $217,000. Finally, Bleakley Financial Group LLC increased its stake in CoStar Group by 7.6% in the first quarter. Bleakley Financial Group LLC now owns 8,579 shares of the technology company’s stock valued at $829,000 after purchasing an additional 608 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $75.77 on Thursday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a market capitalization of $31.06 billion, a P/E ratio of 172.21 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 firm has a 50-day moving average price of $76.02 and a two-hundred day moving average price of $77.70.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CSGP shares. JPMorgan Chase & Co. decreased 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. Keefe, Bruyette & Woods dropped their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. BMO Capital Markets lowered their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired 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 owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

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.