RiverPark Advisors LLC Buys Shares of 387 CoStar Group, Inc. (NASDAQ:CSGP)

RiverPark Advisors LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGPFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 387 shares of the technology company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CSGP. Central Pacific Bank Trust Division acquired a new stake in CoStar Group in the 1st quarter worth approximately $448,000. Jennison Associates LLC boosted its holdings in shares of CoStar Group by 16.1% during the 1st quarter. Jennison Associates LLC now owns 508,951 shares of the technology company’s stock worth $49,165,000 after buying an additional 70,393 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of CoStar Group by 9.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 65,707 shares of the technology company’s stock worth $6,347,000 after buying an additional 5,737 shares during the period. Nordea Investment Management AB grew its stake in CoStar Group by 5.3% in the 1st quarter. Nordea Investment Management AB now owns 28,184 shares of the technology company’s stock valued at $2,746,000 after buying an additional 1,424 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in CoStar Group by 18.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 6,230 shares of the technology company’s stock worth $584,000 after acquiring an additional 955 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

NASDAQ CSGP traded down $0.52 on Wednesday, reaching $71.07. The company’s stock had a trading volume of 422,310 shares, compared to its average volume of 2,228,103. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a market cap of $29.02 billion, a PE ratio of 98.07, a price-to-earnings-growth ratio of 10.82 and a beta of 0.81. The business has a 50-day moving average price of $80.46 and a 200 day moving average price of $84.85.

CoStar Group (NASDAQ:CSGPGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. Sell-side analysts expect that CoStar Group, Inc. will post 0.45 EPS for the current year.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods raised their target price on CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Needham & Company LLC upped their price target on CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Finally, 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 research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

Read Our Latest Report on CoStar Group

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the sale, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares in the company, valued at $5,938,942.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Profile

(Free Report)

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.

Further Reading

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

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