Swiss National Bank Boosts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Swiss National Bank increased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,212,400 shares of the technology company’s stock after buying an additional 3,200 shares during the period. Swiss National Bank owned 0.30% of CoStar Group worth $91,463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp lifted its position in CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after acquiring an additional 124,761 shares in the last quarter. Vulcan Value Partners LLC lifted its position in CoStar Group by 90.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Capital Research Global Investors lifted its position in CoStar Group by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,652,774 shares of the technology company’s stock valued at $256,258,000 after acquiring an additional 238,461 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after acquiring an additional 341,046 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC lowered their price objective on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. dropped 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. Robert W. Baird reduced their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. One equities research 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’s stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Up 2.9 %

CSGP stock opened at $73.35 on Tuesday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.07 billion, a P/E ratio of 166.71 and a beta of 0.82. The business’s 50-day moving average price is $75.70 and its 200-day moving average price is $77.21.

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 analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on 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 purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

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.