Creative Planning Acquires 6,939 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Creative Planning lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 27.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,828 shares of the technology company’s stock after buying an additional 6,939 shares during the period. Creative Planning’s holdings in CoStar Group were worth $2,401,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CSGP. Crewe Advisors LLC bought a new position in CoStar Group during the 1st quarter valued at about $31,000. RiverPark Advisors LLC bought a new position in CoStar Group during the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. bought a new position in CoStar Group during the 2nd quarter valued at about $49,000. Covestor Ltd grew its holdings in CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares during the last quarter. Finally, Quarry LP bought a new position in CoStar Group during the 2nd quarter valued at about $54,000. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSGP. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. BMO Capital Markets cut their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday. Robert W. Baird cut their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Price Performance

Shares of CSGP opened at $74.48 on Monday. The company has a 50 day moving average price of $76.46 and a 200-day moving average price of $78.82. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $30.41 billion, a PE ratio of 102.03 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the prior year, the company earned $0.25 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Equities analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

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.