CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 511 shares of the technology company’s stock after selling 210 shares during the quarter. Park Place Capital Corp’s holdings in CoStar Group were worth $49,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after acquiring an additional 173 shares in the last quarter. Riverview Trust Co bought a new stake in CoStar Group during the 1st quarter valued at $35,000. Pinnacle Bancorp Inc. bought a new stake in CoStar Group during the 4th quarter valued at $37,000. Connectus Wealth LLC raised its stake in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after acquiring an additional 467,534 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in CoStar Group during the 4th quarter valued at $60,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity

In other news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $73.88 on Tuesday. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $30.17 billion, a price-to-earnings ratio of 101.21, a PEG ratio of 11.04 and a beta of 0.81. The stock’s fifty day simple moving average is $82.78 and its 200 day simple moving average is $85.56. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on CSGP shares. BMO Capital Markets lifted their target price on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Bank of America lifted their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research note on Tuesday, June 18th. Robert W. Baird boosted their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.