Cibc World Markets Corp Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Cibc World Markets Corp acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 152,180 shares of the technology company’s stock, valued at approximately $12,604,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in shares of CoStar Group by 945.8% in the second quarter. Baillie Gifford & Co. now owns 12,000,170 shares of the technology company’s stock valued at $993,853,000 after buying an additional 10,852,735 shares during the period. Veritas Asset Management LLP increased its stake in shares of CoStar Group by 816.5% in the second quarter. Veritas Asset Management LLP now owns 4,424,810 shares of the technology company’s stock valued at $366,463,000 after buying an additional 3,942,029 shares during the period. Ownership Capital B.V. boosted its holdings in CoStar Group by 924.9% in the second quarter. Ownership Capital B.V. now owns 3,525,580 shares of the technology company’s stock valued at $291,989,000 after acquiring an additional 3,181,585 shares during the last quarter. Findlay Park Partners LLP boosted its holdings in CoStar Group by 836.7% in the second quarter. Findlay Park Partners LLP now owns 3,347,610 shares of the technology company’s stock valued at $277,249,000 after acquiring an additional 2,990,245 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in CoStar Group by 0.3% in the first quarter. Bamco Inc. NY now owns 1,940,259 shares of the technology company’s stock valued at $1,594,679,000 after acquiring an additional 5,676 shares during the last quarter. 93.81% of the stock is owned by institutional investors.

CSGP has been the topic of several analyst reports. TheStreet upgraded CoStar Group from a “c+” rating to a “b” rating in a report on Tuesday, June 15th. Truist reduced their target price on CoStar Group from $107.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, July 28th. Zacks Investment Research upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Friday, July 9th. Finally, Stephens started coverage on CoStar Group in a report on Wednesday, July 21st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of “Buy” and a consensus target price of $22.51.

In related news, Director John W. Hill sold 6,160 shares of the stock in a transaction on Monday, August 9th. The stock was sold at an average price of $85.77, for a total value of $528,343.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Shares of CSGP opened at $89.34 on Wednesday. CoStar Group, Inc. has a 12-month low of $74.31 and a 12-month high of $95.28. The business’s fifty day moving average is $86.33 and its 200 day moving average is $40.15. The company has a quick ratio of 11.62, a current ratio of 11.62 and a debt-to-equity ratio of 0.18. The stock has a market cap of $35.29 billion, a P/E ratio of 152.20, a P/E/G ratio of 4.82 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Monday, July 26th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. CoStar Group had a return on equity of 6.72% and a net margin of 12.68%. The company had revenue of $480.33 million for the quarter, compared to analysts’ expectations of $469.88 million. During the same period last year, the business earned $2.53 EPS. CoStar Group’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group Profile

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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