13,791 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Grove Bank & Trust

Grove Bank & Trust acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,791 shares of the technology company’s stock, valued at approximately $987,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the third quarter valued at approximately $40,000. Quarry LP acquired a new position in shares of CoStar Group during the second quarter worth $54,000. Brooklyn Investment Group acquired a new position in shares of CoStar Group during the third quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group in the 2nd quarter valued at $104,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $73.85 on Monday. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock’s 50 day moving average price is $74.67 and its two-hundred day moving average price is $75.34.

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. 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 for the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. CoStar Group’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup dropped their target price on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target 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. BMO Capital Markets cut their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $92.92.

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.