Westwind Capital Buys 3,110 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Westwind Capital lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 170,564 shares of the technology company’s stock after purchasing an additional 3,110 shares during the period. CoStar Group accounts for 2.7% of Westwind Capital’s holdings, making the stock its 19th biggest position. Westwind Capital’s holdings in CoStar Group were worth $12,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its position in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after buying an additional 76,916 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after purchasing an additional 341,046 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Performance

NASDAQ CSGP traded down $0.81 on Tuesday, hitting $70.40. 1,106,128 shares of the company traded hands, compared to its average volume of 1,798,310. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $75.22 and its 200-day moving average price is $75.51. The company has a market capitalization of $28.86 billion, a price-to-earnings ratio of 160.00 and a beta of 0.85. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last released 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 return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Equities analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Citigroup reduced their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

About CoStar Group

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.