Insight Wealth Strategies LLC Buys 1,632 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Insight Wealth Strategies LLC grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,815 shares of the technology company’s stock after purchasing an additional 1,632 shares during the quarter. Insight Wealth Strategies LLC’s holdings in CoStar Group were worth $3,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in CoStar Group in the 3rd quarter worth $40,000. Quarry LP bought a new position in shares of CoStar Group in the second quarter worth about $54,000. Brooklyn Investment Group acquired a new position in shares of CoStar Group during the 3rd quarter worth about $91,000. Whittier Trust Co. of Nevada Inc. boosted its stake in CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in CoStar Group in the 2nd quarter valued at approximately $104,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several research reports. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. Finally, Citigroup decreased their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Price Performance

Shares of CoStar Group stock traded down $0.83 during mid-day trading on Monday, reaching $71.42. 1,021,118 shares of the stock were exchanged, compared to its average volume of 1,762,970. The company has a market cap of $29.28 billion, a price-to-earnings ratio of 162.32 and a beta of 0.85. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. 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 simple moving average of $75.28 and a 200 day simple moving average of $75.52.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 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 for the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company earned $0.25 EPS. CoStar Group’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal 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.