Cooper Financial Group Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Cooper Financial Group purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,239 shares of the technology company’s stock, valued at approximately $257,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in CoStar Group by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company’s stock worth $5,421,448,000 after acquiring an additional 2,709,320 shares during the period. Bamco Inc. NY lifted its stake in CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock valued at $1,374,783,000 after buying an additional 418,128 shares during the period. Capital International Investors boosted its holdings in shares of CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after buying an additional 4,345,267 shares in the last quarter. Akre Capital Management LLC increased its stake in shares of CoStar Group by 4.3% in the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock valued at $666,781,000 after acquiring an additional 379,787 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of CoStar Group by 6.6% in the 1st quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company’s stock valued at $668,400,000 after acquiring an additional 524,601 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Down 2.1%

CSGP stock opened at $92.50 on Tuesday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43. The stock has a market cap of $39.19 billion, a P/E ratio of 370.00, a P/E/G ratio of 4.60 and a beta of 0.85. The stock’s fifty day simple moving average is $85.34 and its two-hundred day simple moving average is $79.98. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Needham & Company LLC upped their target price on CoStar Group from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. JMP Securities reissued a “market outperform” rating and issued a $85.00 price target on shares of CoStar Group in a research report on Wednesday, April 30th. Finally, Bank of America assumed coverage on shares of CoStar Group in a research note on Friday, May 30th. They issued a “neutral” rating and a $79.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm’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 completion of the sale, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Frederick G. Saint sold 25,000 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. This represents a 7.26% 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 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.