Oppenheimer & Co. Inc. Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Oppenheimer & Co. Inc. raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 3.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,912 shares of the technology company’s stock after acquiring an additional 1,150 shares during the period. Oppenheimer & Co. Inc.’s holdings in CoStar Group were worth $2,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management raised its holdings in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares during the period. Bleakley Financial Group LLC lifted its holdings in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its stake in CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after purchasing an additional 172 shares during the period. Elo Mutual Pension Insurance Co grew its holdings in CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after buying an additional 188 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of CoStar Group by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company’s stock valued at $2,600,000 after buying an additional 210 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSGP. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada lowered 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. BMO Capital Markets lowered their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC decreased their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Price Performance

CSGP opened at $71.25 on Friday. The stock has a market capitalization of $29.21 billion, a P/E ratio of 161.93 and a beta of 0.82. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock has a 50-day moving average price of $75.82 and a 200-day moving average price of $77.52.

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

Insiders Place Their Bets

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