CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,266 shares of the technology company’s stock after purchasing an additional 1,168 shares during the period. Atlantic Union Bankshares Corp’s holdings in CoStar Group were worth $2,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the third quarter valued at $40,000. Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group during the second quarter worth about $49,000. Quarry LP acquired a new position in CoStar Group in the second quarter worth about $54,000. Rothschild Investment LLC acquired a new position in CoStar Group in the second quarter worth about $73,000. Finally, Blue Trust Inc. increased its holdings in CoStar Group by 493.4% in the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after buying an additional 898 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CSGP. Citigroup reduced their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

In other news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were bought 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 in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

NASDAQ CSGP opened at $81.34 on Friday. The company has a 50-day moving average price of $75.86 and a two-hundred day moving average price of $76.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market cap of $33.35 billion, a price-to-earnings ratio of 184.86 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.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) 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 business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.