32,804 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Purchased by BNP Paribas

BNP Paribas purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,804 shares of the technology company’s stock, valued at approximately $2,475,000.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the third quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in CoStar Group during the second quarter worth $49,000. Quarry LP bought a new stake in CoStar Group in the 2nd quarter valued at $54,000. Rothschild Investment LLC acquired a new position in shares of CoStar Group in the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. lifted its holdings in shares of CoStar Group by 493.4% during the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after acquiring an additional 898 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $79.92 on Wednesday. The business has a fifty day moving average of $75.62 and a 200-day moving average of $76.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market cap of $32.76 billion, a PE ratio of 181.64 and a beta of 0.82.

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

Analysts Set New Price Targets

CSGP has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets lowered their price objective 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. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

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.