CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,869 shares of the technology company’s stock after purchasing an additional 2,732 shares during the quarter. Benjamin Edwards Inc.’s holdings in CoStar Group were worth $1,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSGP. Cerity Partners LLC increased its holdings in shares of CoStar Group by 185.9% in the fourth quarter. Cerity Partners LLC now owns 41,602 shares of the technology company’s stock valued at $3,021,000 after purchasing an additional 27,049 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $45,993,000. Rockefeller Capital Management L.P. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $885,000. Summit Investment Advisors Inc. increased its holdings in shares of CoStar Group by 2.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 17,037 shares of the technology company’s stock valued at $1,220,000 after purchasing an additional 408 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $664,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSGP. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price objective (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Citigroup increased their price objective on CoStar Group from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective 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, Keefe, Bruyette & Woods increased their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

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

CoStar Group Trading Down 2.1%

CSGP opened at $92.50 on Tuesday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. The business has a fifty day simple moving average of $85.34 and a 200-day simple moving average of $79.98. The firm 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 company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The business 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%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. On average, equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

About CoStar Group

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.