Park Place Capital Corp Sells 210 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Park Place Capital Corp reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 29.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 511 shares of the technology company’s stock after selling 210 shares during the period. Park Place Capital Corp’s holdings in CoStar Group were worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CSGP. Blue Trust Inc. lifted its holdings in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after acquiring an additional 173 shares in the last quarter. Riverview Trust Co bought a new stake in shares of CoStar Group in the first quarter valued at about $35,000. TFO Wealth Partners LLC increased its position in shares of CoStar Group by 5,571.4% in the fourth quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after acquiring an additional 390 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at about $37,000. Finally, CVA Family Office LLC acquired a new stake in shares of CoStar Group in the fourth quarter valued at about $60,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Robert W. Baird lifted their target price on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a research report on Tuesday, June 18th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Finally, Bank of America boosted their price target on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Trading Down 0.4 %

Shares of NASDAQ:CSGP opened at $73.88 on Tuesday. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The stock has a market cap of $30.17 billion, a PE ratio of 101.21, a P/E/G ratio of 11.04 and a beta of 0.81. The business has a 50 day moving average of $82.78 and a 200-day moving average of $85.56. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.

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

Insider Activity at CoStar Group

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 stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a filing with the SEC, which is available at this link. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the sale, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate 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.