BNP Paribas Acquires Shares of 32,804 CoStar Group, Inc. (NASDAQ:CSGP)

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

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group in the second quarter worth $49,000. Quarry LP purchased a new position in shares of CoStar Group during the second quarter valued at $54,000. Rothschild Investment LLC acquired a new position in CoStar Group during the second quarter valued at $73,000. Finally, Blue Trust Inc. lifted its stake in CoStar Group by 493.4% in 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 in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets lowered their target price 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. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. 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 research note on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. 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 MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

In other CoStar Group news, 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade 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.

CoStar Group Stock Performance

CSGP opened at $79.92 on Wednesday. The stock has a 50-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 52-week low of $68.26 and a 52-week high of $100.38. The company 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 announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 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 company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same quarter last year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

CoStar Group 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.