New Century Financial Group LLC Acquires 210 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

New Century Financial Group LLC raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,404 shares of the technology company’s stock after acquiring an additional 210 shares during the quarter. New Century Financial Group LLC’s holdings in CoStar Group were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 173 shares during the period. Riverview Trust Co bought a new stake in shares of CoStar Group during the first quarter worth approximately $35,000. Pinnacle Bancorp Inc. acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $37,000. Connectus Wealth LLC increased its stake in shares of CoStar Group by 915.0% during the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares during the period. Finally, CVA Family Office LLC acquired a new stake in CoStar Group during the 4th quarter worth approximately $60,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the 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 transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction 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 owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction 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 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSGP. Stephens reissued an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. BMO Capital Markets increased their target price on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Robert W. Baird raised their price target on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Bank of America raised their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Trading Down 0.5 %

Shares of CoStar Group stock opened at $73.83 on Friday. The firm’s 50 day moving average is $81.65 and its 200 day moving average is $85.20. The firm has a market capitalization of $30.15 billion, a PE ratio of 101.14, a price-to-earnings-growth ratio of 10.99 and a beta of 0.81. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. 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 posted its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $656.40 million for 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%. Equities research analysts forecast 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.