Franklin Resources Inc. boosted its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 793,349 shares of the technology company’s stock after acquiring an additional 83,605 shares during the quarter. Franklin Resources Inc.’s holdings in CoStar Group were worth $235,579,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. acquired a new position in CoStar Group during the fourth quarter worth approximately $102,000. Cerebellum GP LLC acquired a new position in CoStar Group during the fourth quarter worth approximately $129,000. Corient Capital Partners LLC acquired a new position in CoStar Group during the fourth quarter worth approximately $204,000. Hengehold Capital Management LLC acquired a new position in CoStar Group during the fourth quarter worth approximately $206,000. Finally, IFM Investors Pty Ltd acquired a new position in CoStar Group during the fourth quarter worth approximately $219,000. 98.57% of the stock is currently owned by institutional investors.
In related news, CFO Scott T. Wheeler sold 1,250 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $353.69, for a total transaction of $442,112.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Francis Carchedi sold 12,100 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $356.09, for a total value of $4,308,689.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,271 shares of company stock worth $7,509,131. Corporate insiders own 3.09% of the company’s stock.
CoStar Group Inc (NASDAQ:CSGP) opened at $361.22 on Monday. The stock has a market capitalization of $13,038.13, a P/E ratio of 99.78, a PEG ratio of 3.45 and a beta of 1.61. CoStar Group Inc has a twelve month low of $197.55 and a twelve month high of $361.67.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, February 21st. The technology company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.01. The business had revenue of $253.99 million for the quarter, compared to analyst estimates of $253.74 million. CoStar Group had a return on equity of 6.75% and a net margin of 12.71%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. research analysts anticipate that CoStar Group Inc will post 6.25 earnings per share for the current fiscal year.
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CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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