CoStar Group, Inc. (NASDAQ:CSGP) Stock Holdings Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 14.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 94,310 shares of the technology company’s stock after purchasing an additional 11,858 shares during the period. PNC Financial Services Group Inc.’s holdings in CoStar Group were worth $8,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CSGP. Norges Bank bought a new stake in shares of CoStar Group in the 4th quarter worth about $406,934,000. Capital International Investors boosted its holdings in shares of CoStar Group by 32.2% in the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after buying an additional 982,837 shares during the period. Capital Research Global Investors boosted its stake in CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after purchasing an additional 796,386 shares during the period. Westfield Capital Management Co. LP boosted its stake in CoStar Group by 109.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after purchasing an additional 731,375 shares during the period. Finally, Wellington Management Group LLP boosted its stake in CoStar Group by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after purchasing an additional 662,592 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 1.0 %

NASDAQ CSGP opened at $73.20 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. The company’s 50 day simple moving average is $85.48 and its 200 day simple moving average is $86.23. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The company has a market capitalization of $29.89 billion, a P/E ratio of 100.27, a PEG ratio of 11.01 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The business had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. Equities research analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of analyst reports. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. BMO Capital Markets boosted their target price on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Needham & Company LLC boosted their target price on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group boosted their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $102.46.

Insider Activity

In other news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the sale, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 in the company, valued at $28,099,448.37. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

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.