First Trust Direct Indexing L.P. Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

First Trust Direct Indexing L.P. grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,825 shares of the technology company’s stock after buying an additional 2,457 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in CoStar Group were worth $949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in CoStar Group during the 4th quarter valued at $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 in the last quarter. Capital Research Global Investors grew its position in shares of CoStar Group by 49.2% in the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after buying an additional 796,386 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of 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 worth $122,249,000 after acquiring an additional 731,375 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in CoStar Group by 22.7% during the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after acquiring an additional 662,592 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael J. Desmarais sold 3,800 shares of the firm’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 of the company’s stock, valued at approximately $5,938,942.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC increased their price target on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reissued an “outperform” rating and set a $109.00 target price on shares of CoStar Group in a report on Friday, June 7th. Bank of America lifted their price target on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Stephens reissued an “overweight” rating and issued a $105.00 price objective on shares of CoStar Group in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Trading Down 0.5 %

NASDAQ:CSGP opened at $73.83 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The stock has a market cap of $30.15 billion, a P/E ratio of 101.14, a P/E/G ratio of 10.99 and a beta of 0.81. The stock has a 50-day simple moving average of $81.65 and a 200-day simple moving average of $85.20.

CoStar Group (NASDAQ:CSGP) last announced 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 return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. As a group, analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

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.