Baillie Gifford & Co. boosted its position in CoStar Group (NASDAQ:CSGP) by 13.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,641 shares of the technology company’s stock after buying an additional 23,354 shares during the quarter. Baillie Gifford & Co. owned approximately 0.55% of CoStar Group worth $72,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Korea Investment CORP purchased a new stake in CoStar Group in the first quarter worth approximately $109,000. Lenox Wealth Advisors Inc. purchased a new stake in CoStar Group in the fourth quarter worth approximately $102,000. Cerebellum GP LLC purchased a new stake in CoStar Group in the fourth quarter worth approximately $129,000. Wellington Shields Capital Management LLC purchased a new stake in CoStar Group in the first quarter worth approximately $245,000. Finally, Corient Capital Partners LLC purchased a new stake in CoStar Group in the fourth quarter worth approximately $204,000. 96.77% of the stock is owned by institutional investors and hedge funds.
Shares of CSGP stock opened at $382.24 on Friday. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 98.77, a P/E/G ratio of 3.40 and a beta of 1.53. CoStar Group has a fifty-two week low of $242.76 and a fifty-two week high of $396.59.
CoStar Group (NASDAQ:CSGP) last announced its earnings results on Monday, April 23rd. The technology company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.28. The company had revenue of $274.00 million during the quarter, compared to the consensus estimate of $270.56 million. CoStar Group had a return on equity of 6.97% and a net margin of 15.09%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. equities research analysts forecast that CoStar Group will post 6.63 EPS for the current fiscal year.
Several brokerages have weighed in on CSGP. BidaskClub downgraded CoStar Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 18th. ValuEngine upgraded CoStar Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Needham & Company LLC boosted their price objective on CoStar Group to $450.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research downgraded CoStar Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Finally, JMP Securities boosted their price objective on CoStar Group from $375.00 to $380.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $388.45.
In related news, CEO Andrew C. Florance sold 5,839 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $369.05, for a total transaction of $2,154,882.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew Linnington sold 7,921 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $348.23, for a total value of $2,758,329.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,863 shares of company stock valued at $23,271,202. 2.47% of the stock is owned by corporate insiders.
CoStar Group Profile
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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