Los Angeles Capital Management LLC Has $3.39 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Los Angeles Capital Management LLC cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 0.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,818 shares of the technology company’s stock after selling 130 shares during the quarter. Los Angeles Capital Management LLC’s holdings in CoStar Group were worth $3,392,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Deutsche Bank AG raised its holdings in shares of CoStar Group by 37.1% during the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock worth $56,877,000 after acquiring an additional 200,183 shares during the period. Harvest Fund Management Co. Ltd lifted its position in shares of CoStar Group by 11.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after purchasing an additional 376 shares in the last quarter. Simplicity Solutions LLC increased its stake in CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock valued at $697,000 after buying an additional 431 shares during the last quarter. LGT Group Foundation lifted its position in CoStar Group by 45.2% during the 4th quarter. LGT Group Foundation now owns 59,237 shares of the technology company’s stock worth $5,213,000 after buying an additional 18,442 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of CoStar Group by 69.8% in the 4th quarter. abrdn plc now owns 169,683 shares of the technology company’s stock valued at $14,829,000 after acquiring an additional 69,744 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Transactions at CoStar Group

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. Company insiders own 1.58% of the company’s stock.

CoStar Group Stock Performance

NASDAQ CSGP opened at $91.23 on Monday. The firm’s 50 day simple moving average is $90.60 and its 200 day simple moving average is $85.19. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The firm has a market capitalization of $37.25 billion, a price-to-earnings ratio of 124.97, a P/E/G ratio of 10.21 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, research analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of CoStar Group in a research note on Friday, April 12th. Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a research note on Wednesday, April 24th. BTIG Research assumed coverage on CoStar Group in a research note on Friday, January 19th. They issued a “neutral” rating on the stock. Bank of America lifted their target price on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, The Goldman Sachs Group raised their price target on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.46.

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.