American Assets Capital Advisers LLC Acquires Shares of 6,834 CoStar Group, Inc. (NASDAQ:CSGP)

American Assets Capital Advisers LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,834 shares of the technology company’s stock, valued at approximately $516,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after buying an additional 541,700 shares during the last quarter. Janus Henderson Group PLC increased its position in CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after buying an additional 124,761 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after buying an additional 26,800 shares in the last quarter. Finally, Vulcan Value Partners LLC grew its holdings in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, 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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CSGP. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. Citigroup reduced their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC lowered their target price on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods lowered their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Price Performance

CoStar Group stock traded down $0.39 during mid-day trading on Tuesday, hitting $75.48. 558,948 shares of the company were exchanged, compared to its average volume of 2,371,116. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a market capitalization of $30.94 billion, a P/E ratio of 172.43 and a beta of 0.82. The business’s 50 day simple moving average is $76.03 and its two-hundred day simple moving average is $77.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

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.