CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 974,084 shares of the technology company’s stock after acquiring an additional 23,825 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CoStar Group were worth $73,485,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in CoStar Group in the 1st quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the third quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new position in CoStar Group in the second quarter worth approximately $49,000. Covestor Ltd increased its stake in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after acquiring an additional 211 shares during the last quarter. Finally, Quarry LP purchased a new stake in CoStar Group in the second quarter valued at $54,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 1.0 %

Shares of NASDAQ CSGP opened at $75.04 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock has a market cap of $30.76 billion, a P/E ratio of 170.55 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 business’s fifty day simple moving average is $75.99 and its 200-day simple moving average is $77.68.

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

Insider Buying and Selling

In other news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were 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 owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CSGP shares. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Robert W. Baird dropped their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note 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 company. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

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.