Bleakley Financial Group LLC Grows Stake in CoStar Group, Inc. $CSGP

Bleakley Financial Group LLC increased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,530 shares of the technology company’s stock after acquiring an additional 595 shares during the period. Bleakley Financial Group LLC’s holdings in CoStar Group were worth $927,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP grew its position in CoStar Group by 18.5% during the second quarter. Forum Financial Management LP now owns 4,838 shares of the technology company’s stock valued at $389,000 after buying an additional 755 shares during the period. Ethic Inc. bought a new stake in shares of CoStar Group during the 2nd quarter valued at $1,851,000. Stephens Investment Management Group LLC increased its stake in shares of CoStar Group by 4.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 773,281 shares of the technology company’s stock worth $62,172,000 after purchasing an additional 34,444 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of CoStar Group by 3.3% in the 2nd quarter. D.A. Davidson & CO. now owns 34,396 shares of the technology company’s stock worth $2,765,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Wallace Advisory Group LLC raised its holdings in CoStar Group by 2.5% in the 2nd quarter. Wallace Advisory Group LLC now owns 5,201 shares of the technology company’s stock worth $412,000 after purchasing an additional 126 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Activity

In related news, insider Frederick G. Saint sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $90.33, for a total value of $2,258,250.00. Following the sale, the insider directly owned 293,103 shares in the company, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock worth $4,777,764 over the last ninety days. Insiders own 1.09% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $77.89 on Friday. The firm has a market cap of $33.00 billion, a price-to-earnings ratio of 311.56, a P/E/G ratio of 3.66 and a beta of 0.87. The firm has a fifty day moving average price of $84.24 and a 200 day moving average price of $82.75. CoStar Group, Inc. has a fifty-two week low of $68.41 and a fifty-two week high of $97.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on CoStar Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $91.00 price objective on shares of CoStar Group in a research note on Thursday, October 9th. Robert W. Baird raised their target price on shares of CoStar Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Wolfe Research began coverage on shares of CoStar Group in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $105.00 price target for the company. Finally, BTIG Research initiated coverage on shares of CoStar Group in a research note on Friday, October 3rd. They issued a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $94.15.

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.