Nomura Holdings Inc. Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Nomura Holdings Inc. acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, HoldingsChannel reports. The fund acquired 72,469 shares of the technology company’s stock, valued at approximately $6,333,000.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after acquiring an additional 173 shares during the period. TFO Wealth Partners LLC raised its position in shares of CoStar Group by 5,571.4% during the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after purchasing an additional 390 shares during the period. Pinnacle Bancorp Inc. bought a new position in CoStar Group in the 4th quarter worth $37,000. CVA Family Office LLC purchased a new stake in CoStar Group in the 4th quarter worth $60,000. Finally, KB Financial Partners LLC raised its holdings in CoStar Group by 17.9% during the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after acquiring an additional 124 shares during the period. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Performance

CSGP stock opened at $72.73 on Wednesday. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of 99.63, a PEG ratio of 10.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The firm has a 50-day simple moving average of $85.02 and a two-hundred day simple moving average of $86.15.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. On average, equities analysts forecast that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The stock was 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 in the company, valued at approximately $5,938,942.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $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 stock was 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 directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSGP. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. The Goldman Sachs Group increased their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group increased their target price on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $109.00 price target on shares of CoStar Group in a research note on Friday, June 7th. Finally, Robert W. Baird boosted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $102.46.

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.