CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,346 shares of the technology company’s stock after purchasing an additional 993 shares during the quarter. Van ECK Associates Corp’s holdings in CoStar Group were worth $5,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of CoStar Group during the 1st quarter valued at about $31,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the 2nd quarter valued at about $49,000. Covestor Ltd boosted its position in shares of 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 acquiring an additional 211 shares during the last quarter. Quarry LP acquired a new position in shares of CoStar Group during the 2nd quarter valued at about $54,000. Finally, Rothschild Investment LLC acquired a new position in shares of CoStar Group during the 2nd quarter valued at about $73,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Up 1.4 %

Shares of NASDAQ:CSGP opened at $77.39 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a market capitalization of $31.73 billion, a PE ratio of 175.89 and a beta of 0.82. The firm’s 50-day moving average is $76.06 and its two-hundred day moving average is $78.06. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSGP. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. BMO Capital Markets reduced their price objective 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, October 24th. Finally, Citigroup reduced their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.25.

Insider Buying and Selling

In other news, CEO Andrew C. Florance bought 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

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.