First Horizon Advisors Inc. Purchases 453 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

First Horizon Advisors Inc. increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,449 shares of the technology company’s stock after acquiring an additional 453 shares during the period. First Horizon Advisors Inc.’s holdings in CoStar Group were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after acquiring an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in CoStar Group by 90.1% during the 2nd 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. Mackenzie Financial Corp increased its position 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 in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of CoStar Group by 0.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,950,417 shares of the technology company’s stock worth $144,604,000 after acquiring an additional 9,907 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael R. Klein sold 71,633 shares of the 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 owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 bought 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 directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CSGP shares. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Citigroup dropped their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Up 3.6 %

CoStar Group stock opened at $79.81 on Friday. The firm has a market capitalization of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82. The company’s 50 day simple moving average is $75.49 and its 200 day simple moving average is $76.99. 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 fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last released 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 business had revenue of $692.60 million during 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 prior year, the company earned $0.25 EPS. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

CoStar Group Company Profile

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.