ING Groep NV Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

ING Groep NV boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 193.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 182,752 shares of the technology company’s stock after buying an additional 120,376 shares during the period. ING Groep NV’s holdings in CoStar Group were worth $14,479,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Bamco Inc. NY increased its stake in CoStar Group by 2.2% in the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock worth $1,374,783,000 after buying an additional 418,128 shares in the last quarter. Capital International Investors increased its holdings in shares of CoStar Group by 44.9% in the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares during the last quarter. Akre Capital Management LLC increased its holdings in shares of CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock worth $666,781,000 after purchasing an additional 379,787 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of CoStar Group by 6.6% in the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company’s stock worth $668,400,000 after purchasing an additional 524,601 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of CoStar Group by 24.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock worth $459,314,000 after purchasing an additional 1,267,263 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 2.4%

CSGP opened at $96.83 on Tuesday. The stock has a market cap of $41.02 billion, a price-to-earnings ratio of 387.32, a P/E/G ratio of 4.61 and a beta of 0.85. The stock’s 50 day moving average price is $83.21 and its 200-day moving average price is $79.25. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. CoStar Group’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

Analyst Upgrades and Downgrades

CSGP has been the topic of several research reports. Bank of America initiated coverage on CoStar Group in a report on Friday, May 30th. They issued a “neutral” rating and a $79.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on CoStar Group from $83.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insiders Place Their Bets

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the sale, the insider owned 319,539 shares in the company, valued at $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the sale, the chief accounting officer owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is owned by corporate insiders.

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.