Douglas Lane & Associates LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Douglas Lane & Associates LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 383,384 shares of the technology company’s stock, valued at approximately $27,446,000. Douglas Lane & Associates LLC owned about 0.09% of CoStar Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CSGP. Private Advisor Group LLC raised its stake in shares of CoStar Group by 58.1% in the second quarter. Private Advisor Group LLC now owns 10,048 shares of the technology company’s stock valued at $745,000 after buying an additional 3,691 shares during the period. Acadian Asset Management LLC bought a new stake in shares of CoStar Group in the second quarter valued at $816,000. Caprock Group LLC bought a new stake in shares of CoStar Group in the second quarter valued at $223,000. Quest Partners LLC raised its stake in shares of CoStar Group by 42,150.0% in the second quarter. Quest Partners LLC now owns 5,070 shares of the technology company’s stock valued at $376,000 after buying an additional 5,058 shares during the period. Finally, Choreo LLC bought a new stake in shares of CoStar Group in the second quarter valued at $761,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock traded up $1.13 on Wednesday, reaching $71.49. The stock had a trading volume of 718,855 shares, compared to its average volume of 1,811,856. The stock has a market cap of $29.31 billion, a P/E ratio of 162.48 and a beta of 0.85. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a 50 day simple moving average of $75.16 and a 200 day simple moving average of $75.48.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Equities research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSGP. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Monday. BMO Capital Markets decreased their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.08.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group 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.