Accredited Investors Inc. Takes $223,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Accredited Investors Inc. acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,960 shares of the technology company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSGP. Crewe Advisors LLC bought a new stake in CoStar Group in the 1st quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the third quarter worth about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group in the second quarter worth about $49,000. Quarry LP purchased a new position in CoStar Group during the 2nd quarter valued at about $54,000. Finally, Covestor Ltd raised its position in CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CSGP shares. Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reduced their price objective 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. JPMorgan Chase & Co. decreased their price objective 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. Robert W. Baird cut their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Price Performance

CSGP opened at $71.25 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a market cap of $29.21 billion, a PE ratio of 161.94 and a beta of 0.82. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The stock has a 50-day moving average price of $75.82 and a 200-day moving average price of $77.33.

CoStar Group (NASDAQ:CSGP) last posted its quarterly 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 firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. Sell-side analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In related news, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

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.