iA Global Asset Management Inc. Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

iA Global Asset Management Inc. lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,776 shares of the technology company’s stock after acquiring an additional 1,648 shares during the period. iA Global Asset Management Inc.’s holdings in CoStar Group were worth $3,152,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in CoStar Group by 4.4% in the 3rd 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after buying an additional 124,761 shares in the last quarter. Vulcan Value Partners LLC boosted its position in shares of CoStar Group by 90.1% during the second 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. grew its stake in CoStar Group by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after acquiring an additional 76,916 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in 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 acquiring an additional 341,046 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $77.32 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. 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 firm has a 50-day moving average price of $76.20 and a 200-day moving average price of $76.28. The firm has a market capitalization of $31.70 billion, a PE ratio of 175.73 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last announced 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. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSGP. BMO Capital Markets dropped their price objective 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. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Tuesday, November 19th. Finally, 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 stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Buying and Selling

In other news, Director Michael R. Klein sold 71,633 shares of the firm’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 transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

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.