Geneva Capital Management LLC Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Geneva Capital Management LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,700 shares of the technology company’s stock after purchasing an additional 11,562 shares during the quarter. Geneva Capital Management LLC’s holdings in CoStar Group were worth $31,738,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Swedbank AB purchased a new stake in CoStar Group in the first quarter valued at $4,223,000. State Board of Administration of Florida Retirement System grew its position in CoStar Group by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock worth $46,145,000 after purchasing an additional 23,987 shares during the last quarter. Twin Tree Management LP purchased a new position in shares of CoStar Group during the first quarter worth about $802,000. Gateway Investment Advisers LLC raised its stake in CoStar Group by 31.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock valued at $3,005,000 after acquiring an additional 9,618 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of CoStar Group during the first quarter worth approximately $28,446,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSGP. Bank of America lowered their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Robert W. Baird decreased their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Citigroup dropped their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Down 0.6 %

Shares of CoStar Group stock opened at $75.41 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The business has a 50-day moving average of $76.03 and a 200-day moving average of $77.82. The company has a market capitalization of $30.92 billion, a PE ratio of 171.39 and a beta of 0.82.

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

Insider Buying and Selling at CoStar Group

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

CoStar Group Company 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.