Accredited Investors Inc. Buys New Position in CoStar Group, Inc. (NASDAQ:CSGP)

Accredited Investors Inc. purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,960 shares of the technology company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also modified their holdings of CSGP. Janus Henderson Group PLC grew its stake in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Bank of New York Mellon Corp lifted its holdings in CoStar Group by 2.1% during the second 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 purchasing an additional 124,761 shares in the last quarter. Vulcan Value Partners LLC boosted its position in shares of CoStar Group by 90.1% in the second 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 during the period. Capital Research Global Investors raised its position in shares of CoStar Group by 9.9% during 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 purchasing an additional 238,461 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of CoStar Group by 16.9% during the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after buying an additional 341,046 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The stock was bought at an average cost 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. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares in the company, valued at $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. Company insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Citigroup reduced their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Price Performance

CoStar Group stock opened at $71.25 on Monday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week 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 firm’s fifty day moving average is $75.82 and its 200 day moving average is $77.33. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 161.94 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.57% and a return on equity of 3.53%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Sell-side analysts forecast that CoStar Group, Inc. will post 0.52 EPS 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.