State of Alaska Department of Revenue Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

State of Alaska Department of Revenue grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,231 shares of the technology company’s stock after buying an additional 205 shares during the quarter. State of Alaska Department of Revenue’s holdings in CoStar Group were worth $10,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CSGP. Blue Trust Inc. lifted its stake in shares of CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. Riverview Trust Co bought a new position in CoStar Group during the first quarter valued at $35,000. TFO Wealth Partners LLC raised its stake 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 period. Pinnacle Bancorp Inc. purchased a new position in shares of CoStar Group during the 4th quarter worth about $37,000. Finally, CVA Family Office LLC bought a new position in CoStar Group during the 4th quarter valued at about $60,000. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CSGP shares. The Goldman Sachs Group boosted their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Stephens reissued an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research note on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Bank of America raised their price target on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets raised their price target on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. 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.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Stock Down 0.5 %

Shares of NASDAQ CSGP opened at $73.83 on Thursday. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The stock’s fifty day simple moving average is $82.34 and its two-hundred day simple moving average is $85.36. The stock has a market capitalization of $30.15 billion, a PE ratio of 101.14, a price-to-earnings-growth ratio of 11.05 and a beta of 0.81. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the firm’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 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 legal filing with the SEC, which is available through this hyperlink. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction dated 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 owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated 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 owns 303,417 shares in the company, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

About CoStar Group

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.