CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,414 shares of the technology company’s stock after acquiring an additional 463 shares during the quarter. Empowered Funds LLC’s holdings in CoStar Group were worth $484,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CSGP. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group in the third quarter valued at $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter valued at about $49,000. Quarry LP acquired a new position in shares of CoStar Group during the 2nd quarter valued at about $54,000. Rothschild Investment LLC purchased a new position in shares of CoStar Group during the 2nd quarter worth about $73,000. Finally, Blue Trust Inc. boosted its position in shares of CoStar Group by 493.4% in the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after acquiring an additional 898 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CSGP shares. Citigroup cut their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Tuesday, November 19th. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Trading Up 3.6 %

CoStar Group stock opened at $79.81 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The firm’s 50-day moving average is $75.49 and its 200-day moving average is $76.79. The company has a market cap of $32.72 billion, a P/E ratio of 181.39 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

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.