Pallas Capital Advisors LLC Makes New $342,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Pallas Capital Advisors LLC bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,626 shares of the technology company’s stock, valued at approximately $342,000.

Other large investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at approximately $31,000. RiverPark Advisors LLC bought a new stake in CoStar Group during the first quarter worth $37,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group in the 2nd quarter valued at $49,000. Quarry LP acquired a new stake in shares of CoStar Group in the 2nd quarter valued at $54,000. Finally, Covestor Ltd increased its stake in shares of CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CSGP shares. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Down 0.9 %

CSGP opened at $72.79 on Friday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company’s 50-day moving average is $76.31 and its 200 day moving average is $78.50. The firm has a market capitalization of $29.84 billion, a P/E ratio of 165.43 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. Research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

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.