HighPoint Advisor Group LLC Purchases New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

HighPoint Advisor Group LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,552 shares of the technology company’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. bought a new stake in shares of CoStar Group during the third quarter worth $1,107,000. FMR LLC boosted its stake in shares of CoStar Group by 83.2% in the 3rd quarter. FMR LLC now owns 1,405,414 shares of the technology company’s stock valued at $108,062,000 after purchasing an additional 638,241 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of CoStar Group in the 3rd quarter valued at about $188,000. Hsbc Holdings PLC raised its stake in shares of CoStar Group by 19.4% during the third quarter. Hsbc Holdings PLC now owns 569,799 shares of the technology company’s stock worth $43,791,000 after buying an additional 92,599 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in CoStar Group by 0.5% in the third quarter. Clearbridge Investments LLC now owns 531,159 shares of the technology company’s stock valued at $40,841,000 after buying an additional 2,785 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Trading Up 0.5 %

Shares of NASDAQ:CSGP opened at $73.07 on Friday. The firm has a market cap of $29.84 billion, a price-to-earnings ratio of 100.10, a PEG ratio of 10.83 and a beta of 0.83. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The company’s fifty day simple moving average is $84.27 and its 200 day simple moving average is $85.96. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The firm had revenue of $656.40 million for the quarter, compared to the consensus estimate of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. As a group, research analysts forecast that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSGP. Stephens reaffirmed an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. Bank of America upped their price objective on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. JMP Securities restated a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a report on Tuesday. Robert W. Baird boosted their target price on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Finally, Jefferies Financial Group increased their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $102.46.

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.