Los Angeles Capital Management LLC Makes New $4.36 Million Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Los Angeles Capital Management LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 57,837 shares of the technology company’s stock, valued at approximately $4,363,000.

A number of other institutional investors have also recently added to or reduced their stakes in CSGP. Vanguard Group Inc. raised its position in CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp increased its stake in CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after purchasing an additional 124,761 shares in the last quarter. Blair William & Co. IL lifted its holdings in CoStar Group by 0.6% during the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after acquiring an additional 26,800 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its holdings in shares of CoStar Group by 90.1% in the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the company’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 completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $75.41 on Wednesday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a market cap of $30.92 billion, a PE ratio of 172.43 and a beta of 0.82. The business’s fifty day simple moving average is $76.03 and its 200-day simple moving average is $77.82.

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

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Bank of America cut their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC dropped their price objective on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

About CoStar Group

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.