Canandaigua National Bank & Trust Co. Invests $448,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Canandaigua National Bank & Trust Co. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 6,259 shares of the technology company’s stock, valued at approximately $448,000.

Several other institutional investors have also recently bought and sold shares of the company. Insight Wealth Strategies LLC boosted its position in shares of CoStar Group by 3.3% in the fourth quarter. Insight Wealth Strategies LLC now owns 51,815 shares of the technology company’s stock valued at $3,709,000 after acquiring an additional 1,632 shares during the period. Nordea Investment Management AB boosted its holdings in CoStar Group by 3.7% in the 4th quarter. Nordea Investment Management AB now owns 32,902 shares of the technology company’s stock valued at $2,376,000 after purchasing an additional 1,172 shares during the period. Everence Capital Management Inc. grew its position in CoStar Group by 52.5% in the 4th quarter. Everence Capital Management Inc. now owns 14,320 shares of the technology company’s stock worth $1,025,000 after purchasing an additional 4,930 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of CoStar Group by 7.7% during the 4th quarter. GAMMA Investing LLC now owns 4,938 shares of the technology company’s stock worth $354,000 after purchasing an additional 355 shares during the period. Finally, JPMorgan Chase & Co. grew its position in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $71.21 on Tuesday. The business has a fifty day moving average of $75.22 and a 200-day moving average of $75.51. The firm has a market cap of $29.19 billion, a PE ratio of 161.84 and a beta of 0.85. 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, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

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. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

CSGP has been the subject of a number of research reports. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Monday. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup cut their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.08.

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.