Sumitomo Mitsui Trust Holdings Inc. Buys 17,658 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,035,675 shares of the technology company’s stock after buying an additional 17,658 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of CoStar Group worth $100,046,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in CoStar Group by 125.4% in the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Riverview Trust Co bought a new stake in shares of CoStar Group during the first quarter worth $35,000. Pinnacle Bancorp Inc. bought a new stake in shares of CoStar Group during the fourth quarter worth $37,000. Connectus Wealth LLC lifted its position in shares of CoStar Group by 915.0% during the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares during the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of CoStar Group during the fourth quarter valued at $60,000. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently commented on CSGP. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a research note on Tuesday, June 18th. Robert W. Baird raised their price target on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Bank of America raised their price target on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group lifted their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $73.83 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The company has a market cap of $30.15 billion, a PE ratio of 101.14, a P/E/G ratio of 11.05 and a beta of 0.81. The business has a 50-day simple moving average of $82.34 and a two-hundred day simple moving average of $85.36. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $656.40 million during 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, equities analysts expect that CoStar Group, Inc. will post 0.45 EPS for the current fiscal 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.