CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by UMB Bank n.a.

UMB Bank n.a. lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 82,653 shares of the technology company’s stock after acquiring an additional 4,778 shares during the quarter. UMB Bank n.a.’s holdings in CoStar Group were worth $5,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the 3rd quarter valued at approximately $40,000. JPMorgan Chase & Co. increased its holdings in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC boosted its position in CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after buying an additional 150,000 shares during the period. Swedbank AB boosted its position in CoStar Group by 469.3% in the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after buying an additional 204,474 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after buying an additional 14,468 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. BMO Capital Markets decreased their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. Citigroup decreased their price objective on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.92.

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 transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % 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 company insiders.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $73.85 on Monday. The company’s fifty day moving average price is $74.67 and its 200 day moving average price is $75.34. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. 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 $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating 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%. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

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.