Alps Advisors Inc. purchased a new stake in shares of CoStar Group (NASDAQ:CSGP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,323 shares of the technology company’s stock, valued at approximately $480,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSGP. Bank of Montreal Can lifted its stake in shares of CoStar Group by 366.2% in the 4th quarter. Bank of Montreal Can now owns 7,035 shares of the technology company’s stock valued at $2,089,000 after purchasing an additional 5,526 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of CoStar Group by 6.8% in the 4th quarter. Gulf International Bank UK Ltd now owns 10,949 shares of the technology company’s stock valued at $3,251,000 after purchasing an additional 700 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of CoStar Group by 14.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 120,892 shares of the technology company’s stock valued at $35,899,000 after purchasing an additional 15,265 shares during the last quarter. Oakbrook Investments LLC lifted its stake in shares of CoStar Group by 24.4% in the 4th quarter. Oakbrook Investments LLC now owns 1,298 shares of the technology company’s stock valued at $385,000 after purchasing an additional 255 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of CoStar Group in the 4th quarter valued at approximately $4,528,000. Institutional investors and hedge funds own 97.54% of the company’s stock.
CSGP has been the subject of several analyst reports. Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Thursday, February 8th. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 5th. Citigroup reaffirmed a “buy” rating and issued a $425.00 price objective (up from $320.00) on shares of CoStar Group in a research note on Tuesday, January 23rd. B. Riley raised their price objective on CoStar Group to $400.00 in a research note on Tuesday, February 20th. Finally, Needham & Company LLC raised their price objective on CoStar Group to $430.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $388.45.
In other CoStar Group news, CFO Scott T. Wheeler sold 1,250 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $353.69, for a total transaction of $442,112.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew C. Florance sold 24,821 shares of the firm’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $371.03, for a total value of $9,209,335.63. The disclosure for this sale can be found here. Insiders have sold a total of 63,863 shares of company stock valued at $23,271,202 over the last three months. 2.47% of the stock is owned by corporate insiders.
Shares of CSGP stock opened at $392.13 on Friday. CoStar Group has a 52-week low of $242.76 and a 52-week high of $395.04. The company has a market cap of $14.20 billion, a P/E ratio of 101.33, a price-to-earnings-growth ratio of 3.51 and a beta of 1.53.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Monday, April 23rd. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.28. CoStar Group had a return on equity of 6.97% and a net margin of 15.09%. The firm had revenue of $274.00 million during the quarter, compared to analyst estimates of $270.56 million. During the same period last year, the company earned $1.05 EPS. CoStar Group’s quarterly revenue was up 20.7% compared to the same quarter last year. analysts anticipate that CoStar Group will post 6.63 earnings per share for the current fiscal year.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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