Bares Capital Management Inc. increased its position in shares of CoStar Group (NASDAQ:CSGP) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 622,557 shares of the technology company’s stock after purchasing an additional 994 shares during the period. CoStar Group makes up 8.6% of Bares Capital Management Inc.’s portfolio, making the stock its 2nd largest holding. Bares Capital Management Inc. owned about 1.71% of CoStar Group worth $225,789,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CSGP. BlackRock Inc. boosted its stake in shares of CoStar Group by 12.5% during the 4th quarter. BlackRock Inc. now owns 1,794,476 shares of the technology company’s stock worth $532,869,000 after purchasing an additional 199,267 shares during the period. Renaissance Technologies LLC boosted its position in CoStar Group by 119.4% in the 4th quarter. Renaissance Technologies LLC now owns 205,998 shares of the technology company’s stock valued at $61,171,000 after buying an additional 112,100 shares during the period. Goldman Sachs Group Inc. boosted its position in CoStar Group by 43.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 308,180 shares of the technology company’s stock valued at $91,514,000 after buying an additional 92,864 shares during the period. Franklin Resources Inc. boosted its position in CoStar Group by 11.8% in the 4th quarter. Franklin Resources Inc. now owns 793,349 shares of the technology company’s stock valued at $235,579,000 after buying an additional 83,605 shares during the period. Finally, Jennison Associates LLC boosted its position in CoStar Group by 80.1% in the 4th quarter. Jennison Associates LLC now owns 126,428 shares of the technology company’s stock valued at $37,543,000 after buying an additional 56,217 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Andrew C. Florance sold 24,821 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $371.03, for a total value of $9,209,335.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Hill sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $361.28, for a total transaction of $415,472.00. The disclosure for this sale can be found here. Insiders sold a total of 63,863 shares of company stock valued at $23,271,202 in the last ninety days. Corporate insiders own 2.47% of the company’s stock.
CSGP has been the subject of several research reports. Wells Fargo set a $400.00 price objective on shares of CoStar Group and gave the company a “buy” rating in a research report on Thursday, January 18th. Citigroup reissued a “buy” rating and issued a $425.00 price objective (up from $320.00) on shares of CoStar Group in a research report on Tuesday, January 23rd. SunTrust Banks boosted their price objective on shares of CoStar Group to $410.00 and gave the company a “buy” rating in a research report on Monday, February 5th. BidaskClub raised shares of CoStar Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 5th. Finally, Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $388.45.
Shares of CSGP opened at $375.87 on Friday. CoStar Group has a fifty-two week low of $383.44 and a fifty-two week high of $388.00. The company has a market capitalization of $14.12 billion, a PE ratio of 97.12, a price-to-earnings-growth ratio of 3.49 and a beta of 1.53.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Monday, April 23rd. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.28. CoStar Group had a net margin of 15.09% and a return on equity of 6.97%. The firm had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $270.56 million. During the same quarter in the prior year, the company earned $1.05 EPS. The company’s revenue was up 20.7% compared to the same quarter last year. research analysts expect 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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