CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,456 shares of the technology company’s stock after purchasing an additional 589 shares during the period. Maryland State Retirement & Pension System’s holdings in CoStar Group were worth $2,749,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSGP. Deutsche Bank AG grew its stake in shares of CoStar Group by 37.1% during the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after purchasing an additional 200,183 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock valued at $312,000 after acquiring an additional 376 shares during the last quarter. Simplicity Solutions LLC raised its position in shares of CoStar Group by 5.7% during the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after acquiring an additional 431 shares in the last quarter. LGT Group Foundation lifted its stake in CoStar Group by 45.2% during the fourth quarter. LGT Group Foundation now owns 59,237 shares of the technology company’s stock worth $5,213,000 after purchasing an additional 18,442 shares during the last quarter. Finally, abrdn plc boosted its holdings in CoStar Group by 69.8% in the fourth quarter. abrdn plc now owns 169,683 shares of the technology company’s stock valued at $14,829,000 after purchasing an additional 69,744 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP stock traded down $1.84 during midday trading on Wednesday, reaching $90.62. 184,576 shares of the company traded hands, compared to its average volume of 2,136,050. The firm’s 50 day simple moving average is $90.90 and its two-hundred day simple moving average is $85.44. The firm has a market cap of $37.00 billion, a PE ratio of 126.66, a price-to-earnings-growth ratio of 10.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same period in the prior year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The disclosure for this sale can be found here. 1.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CSGP has been the subject of several research analyst reports. Bank of America upped their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Citigroup boosted their price objective on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BMO Capital Markets raised their target price on shares of CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Needham & Company LLC boosted their price target on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $102.46.

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.