Icon Wealth Advisors LLC Acquires 405,062 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Icon Wealth Advisors LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8,314.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 409,934 shares of the technology company’s stock after purchasing an additional 405,062 shares during the period. CoStar Group accounts for about 1.2% of Icon Wealth Advisors LLC’s portfolio, making the stock its 14th largest position. Icon Wealth Advisors LLC owned 0.10% of CoStar Group worth $30,925,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CSGP. Crewe Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the third quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of CoStar Group during the 2nd quarter valued at $49,000. Quarry LP acquired a new stake in shares of CoStar Group in the 2nd quarter worth $54,000. Finally, Covestor Ltd increased its stake in 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 purchasing an additional 211 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CSGP shares. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets cut 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 report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Citigroup dropped their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $93.25.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $76.99 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. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a market capitalization of $31.56 billion, a P/E ratio of 174.98 and a beta of 0.82. The business has a 50 day simple moving average of $75.47 and a two-hundred day simple moving average of $77.07.

CoStar Group (NASDAQ:CSGP) last announced 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. The company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, analysts predict that CoStar Group, Inc. will post 0.52 EPS 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.