CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,470 shares of the technology company’s stock after purchasing an additional 8,169 shares during the period. The Manufacturers Life Insurance Company’s holdings in CoStar Group were worth $21,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of CoStar Group by 49.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,087 shares of the technology company’s stock worth $491,000 after acquiring an additional 1,673 shares during the last quarter. Tidal Investments LLC increased its position in CoStar Group by 8.2% during the 1st quarter. Tidal Investments LLC now owns 13,095 shares of the technology company’s stock worth $1,265,000 after purchasing an additional 998 shares in the last quarter. Swedbank AB purchased a new position in CoStar Group in the 1st quarter valued at about $4,223,000. Cetera Investment Advisers boosted its stake in shares of CoStar Group by 129.8% during the 1st quarter. Cetera Investment Advisers now owns 150,203 shares of the technology company’s stock worth $14,510,000 after purchasing an additional 84,854 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of CoStar Group by 523.0% during the first quarter. Cetera Advisors LLC now owns 38,453 shares of the technology company’s stock worth $3,715,000 after buying an additional 32,281 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. JPMorgan Chase & Co. dropped their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

Shares of CSGP stock opened at $81.34 on Friday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $33.35 billion, a PE ratio of 184.86 and a beta of 0.82. The company’s fifty day simple moving average is $75.86 and its 200-day simple moving average is $76.59. 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 data 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 company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the firm’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 sale, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

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.