Summit Trail Advisors LLC Boosts Holdings in CoStar Group Inc (CSGP)

Summit Trail Advisors LLC grew its stake in shares of CoStar Group Inc (NASDAQ:CSGP) by 21,110.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,838 shares of the technology company’s stock after buying an additional 105,339 shares during the quarter. Summit Trail Advisors LLC’s holdings in CoStar Group were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of CoStar Group by 39.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 510 shares of the technology company’s stock worth $183,000 after buying an additional 143 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of CoStar Group by 13.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,395 shares of the technology company’s stock worth $413,000 after buying an additional 170 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of CoStar Group by 17.2% during the first quarter. CIBC Asset Management Inc now owns 1,283 shares of the technology company’s stock worth $465,000 after buying an additional 188 shares during the last quarter. Advisor Group Inc. grew its stake in shares of CoStar Group by 12.5% during the fourth quarter. Advisor Group Inc. now owns 1,917 shares of the technology company’s stock worth $568,000 after buying an additional 213 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of CoStar Group by 9.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,650 shares of the technology company’s stock worth $787,000 after buying an additional 227 shares during the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CoStar Group opened at $412.63 on Friday, Marketbeat Ratings reports. CoStar Group Inc has a twelve month low of $255.41 and a twelve month high of $422.47. The firm has a market capitalization of $15.02 billion, a P/E ratio of 106.62, a price-to-earnings-growth ratio of 3.71 and a beta of 1.53.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data 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 company had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $270.56 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. CoStar Group’s revenue for the quarter was up 20.7% on a year-over-year basis. analysts forecast that CoStar Group Inc will post 6.63 EPS for the current year.

In related news, CEO Andrew C. Florance sold 5,839 shares of the business’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $369.05, for a total value of $2,154,882.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 38,442 shares of company stock worth $14,261,768. 2.47% of the stock is currently owned by insiders.

A number of analysts have weighed in on CSGP shares. BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 18th. ValuEngine raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $415.00 target price on the stock in a research note on Thursday, April 26th. Needham & Company LLC boosted their target price on shares of CoStar Group to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Finally, SunTrust Banks boosted their target price on shares of CoStar Group to $435.00 and gave the stock a “buy” rating in a research note on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $388.45.

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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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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