Daiwa Securities Group Inc. Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Daiwa Securities Group Inc. grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,579 shares of the technology company’s stock after buying an additional 8,258 shares during the period. Daiwa Securities Group Inc.’s holdings in CoStar Group were worth $6,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CSGP. Bank of New York Mellon Corp lifted its holdings in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after purchasing an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC lifted its stake in shares of 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 valued at $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after buying an additional 76,916 shares during the period. Mackenzie Financial Corp grew its stake 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 buying an additional 341,046 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in CoStar Group by 0.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,950,417 shares of the technology company’s stock valued at $144,604,000 after acquiring an additional 9,907 shares during the period. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of analyst reports. BMO Capital Markets cut their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Tuesday, November 19th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup decreased their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently 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, 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 value 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 approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 0.4 %

Shares of NASDAQ:CSGP opened at $79.92 on Wednesday. The firm has a market capitalization of $32.76 billion, a PE ratio of 181.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a fifty day moving average of $75.62 and a 200 day moving average of $76.64.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

CoStar Group 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.