Insight Wealth Strategies LLC Invests $3.79 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Insight Wealth Strategies LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 50,183 shares of the technology company’s stock, valued at approximately $3,786,000.

Several other hedge funds have also modified their holdings of CSGP. Vulcan Value Partners LLC lifted its position in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares during the last quarter. Select Equity Group L.P. bought a new position in shares of CoStar Group during the second quarter worth about $60,761,000. Renaissance Technologies LLC acquired a new stake in CoStar Group in the second quarter worth about $46,692,000. Finally, Vanguard Group Inc. lifted its holdings in CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Up 3.0 %

Shares of CSGP traded up $2.22 on Tuesday, hitting $75.52. The company’s stock had a trading volume of 108,500 shares, compared to its average volume of 2,237,004. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $76.10 and its 200-day moving average price is $80.80. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The firm has a market capitalization of $30.84 billion, a price-to-earnings ratio of 100.41 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that CoStar Group, Inc. will post 0.49 EPS for the current year.

Analyst Ratings Changes

CSGP has been the subject of several research reports. Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group dropped their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Robert W. Baird cut their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.38.

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.