Apollon Wealth Management LLC Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Apollon Wealth Management LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,679 shares of the technology company’s stock, valued at approximately $278,000.

Other large investors have also bought and sold shares of the company. Avantax Advisory Services Inc. bought a new position in shares of CoStar Group in the first quarter worth approximately $217,000. Intech Investment Management LLC boosted its position in CoStar Group by 56.6% during the 1st quarter. Intech Investment Management LLC now owns 4,889 shares of the technology company’s stock valued at $472,000 after buying an additional 1,768 shares during the period. Covestor Ltd grew its holdings in CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after acquiring an additional 211 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of CoStar Group by 34.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 15,301 shares of the technology company’s stock valued at $1,478,000 after acquiring an additional 3,892 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in shares of CoStar Group by 321.4% during the first quarter. UniSuper Management Pty Ltd now owns 16,040 shares of the technology company’s stock valued at $1,549,000 after acquiring an additional 12,234 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSGP has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Citigroup reduced their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets cut their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group cut their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Price Performance

Shares of CSGP opened at $73.35 on Tuesday. The firm’s 50-day simple moving average is $75.70 and its two-hundred day simple moving average is $77.21. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market cap of $30.07 billion, a PE ratio of 166.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by 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.