Swedbank AB Buys 204,474 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Swedbank AB lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 469.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,043 shares of the technology company’s stock after buying an additional 204,474 shares during the quarter. Swedbank AB’s holdings in CoStar Group were worth $18,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSGP. Ashton Thomas Securities LLC purchased a new position in CoStar Group during the third quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group during the 2nd quarter valued at $49,000. Quarry LP bought a new position in shares of CoStar Group in the second quarter worth $54,000. Rothschild Investment LLC bought a new position in shares of CoStar Group in the second quarter worth $73,000. Finally, Blue Trust Inc. raised its position in shares of CoStar Group by 493.4% in the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after buying an additional 898 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The stock was acquired 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 owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

CSGP opened at $79.92 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. The stock’s 50 day simple moving average is $75.62 and its 200 day simple moving average is $76.64. The firm has a market cap of $32.76 billion, a price-to-earnings ratio of 181.64 and a beta of 0.82. 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 earnings results 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. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the business earned $0.25 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CSGP. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

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.