CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Lifted by Bridgewater Associates LP

Bridgewater Associates LP grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 23.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 423,073 shares of the technology company’s stock after purchasing an additional 81,054 shares during the period. Bridgewater Associates LP owned 0.10% of CoStar Group worth $31,917,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in CoStar Group in the third quarter worth about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $49,000. Quarry LP bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $54,000. Rothschild Investment LLC acquired a new position in CoStar Group during the 2nd quarter valued at approximately $73,000. Finally, Blue Trust Inc. grew its stake in 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 buying an additional 898 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The shares were bought 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JMP Securities reissued a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Tuesday, November 19th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, 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 report on Thursday, October 24th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $79.92 on Wednesday. The stock’s fifty day simple moving average is $75.62 and its 200 day simple moving average is $76.64. The stock has a market capitalization of $32.76 billion, a price-to-earnings ratio of 181.64 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share 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 firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the business posted $0.25 EPS. CoStar Group’s revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share 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.