Summit Creek Advisors LLC Purchases 3,100 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Summit Creek Advisors LLC boosted its position in CoStar Group, Inc. (NASDAQ:CSGPGet Rating) by 116.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,766 shares of the technology company’s stock after purchasing an additional 3,100 shares during the quarter. Summit Creek Advisors LLC’s holdings in CoStar Group were worth $384,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its holdings in shares of CoStar Group by 27.2% during the first quarter. Teacher Retirement System of Texas now owns 97,595 shares of the technology company’s stock valued at $6,501,000 after acquiring an additional 20,873 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of CoStar Group by 6.4% during the first quarter. Brown Advisory Inc. now owns 359,288 shares of the technology company’s stock valued at $24,075,000 after acquiring an additional 21,652 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of CoStar Group by 4.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 299,069 shares of the technology company’s stock valued at $19,921,000 after acquiring an additional 13,149 shares in the last quarter. Connectus Wealth LLC increased its holdings in shares of CoStar Group by 74.5% during the first quarter. Connectus Wealth LLC now owns 501,309 shares of the technology company’s stock valued at $33,392,000 after acquiring an additional 213,987 shares in the last quarter. Finally, Camden Capital LLC increased its holdings in shares of CoStar Group by 22.2% during the first quarter. Camden Capital LLC now owns 4,912 shares of the technology company’s stock valued at $327,000 after acquiring an additional 891 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John W. Hill sold 1,750 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $57.07, for a total transaction of $99,872.50. Following the transaction, the director now owns 21,998 shares in the company, valued at approximately $1,255,425.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael J. Desmarais sold 2,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $72.51, for a total value of $145,020.00. Following the completion of the transaction, the insider now directly owns 39,619 shares of the company’s stock, valued at approximately $2,872,773.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Hill sold 1,750 shares of the stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $57.07, for a total value of $99,872.50. Following the completion of the transaction, the director now directly owns 21,998 shares of the company’s stock, valued at $1,255,425.86. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent research reports. Citigroup upped their target price on CoStar Group from $65.00 to $70.00 in a research report on Wednesday, April 27th. Needham & Company LLC upped their target price on CoStar Group from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Royal Bank of Canada upped their target price on CoStar Group from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, April 11th. Finally, Truist Financial upped their target price on CoStar Group to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.88.

CoStar Group Stock Performance

CoStar Group stock remained flat at $72.87 during mid-day trading on Friday. The company’s stock had a trading volume of 1,072,554 shares, compared to its average volume of 1,743,341. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.95 and a quick ratio of 11.95. CoStar Group, Inc. has a 1-year low of $49.00 and a 1-year high of $101.05. The firm’s 50-day moving average is $61.95 and its two-hundred day moving average is $62.73. The stock has a market cap of $28.85 billion, a P/E ratio of 86.75 and a beta of 0.92.

CoStar Group (NASDAQ:CSGPGet Rating) last announced its earnings results on Tuesday, July 26th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. CoStar Group had a return on equity of 7.31% and a net margin of 16.03%. During the same quarter last year, the business posted $0.22 EPS. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.97 EPS for the current fiscal year.

CoStar Group Profile

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

Read More

Want to see what other hedge funds are holding CSGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGPGet Rating).

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

Receive News & Ratings for CoStar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoStar Group and related companies with MarketBeat.com's FREE daily email newsletter.