Baker Tilly Wealth Management LLC Acquires 1,224 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Baker Tilly Wealth Management LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 18.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,777 shares of the technology company’s stock after purchasing an additional 1,224 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in CoStar Group were worth $557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. Geode Capital Management LLC lifted its holdings in CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares in the last quarter. Vulcan Value Partners LLC lifted its stake 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 worth $306,831,000 after purchasing an additional 1,961,917 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after purchasing an additional 76,916 shares during the period. Finally, Mackenzie Financial Corp increased its stake in CoStar Group by 16.9% during the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after acquiring an additional 341,046 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’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 directly 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. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Down 2.2 %

CoStar Group stock traded down $1.54 during mid-day trading on Friday, hitting $69.80. The company had a trading volume of 641,061 shares, compared to its average volume of 1,846,026. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock’s 50 day moving average price is $75.09 and its two-hundred day moving average price is $75.43. The company has a market capitalization of $28.62 billion, a PE ratio of 158.64 and a beta of 0.85. 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 announced its 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 firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Thursday, January 2nd. BMO Capital Markets decreased their price target on shares of 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. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Monday. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.08.

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.