Assetmark Inc. Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Assetmark Inc. lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 24.1% during the third quarter, HoldingsChannel.com reports. The firm owned 68,659 shares of the technology company’s stock after purchasing an additional 13,320 shares during the quarter. Assetmark Inc.’s holdings in CoStar Group were worth $5,180,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Crewe Advisors LLC purchased a new stake in shares of CoStar Group in the first quarter worth $31,000. Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group during the second quarter valued at about $49,000. Covestor Ltd increased its holdings in CoStar Group by 43.0% during 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 period. Quarry LP purchased a new position in shares of CoStar Group during the second quarter valued at approximately $54,000. Finally, Rothschild Investment LLC bought a new position in CoStar Group in the 2nd quarter worth $73,000. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

CSGP has been the subject of a number of research analyst reports. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $75.87 on Tuesday. The firm’s 50 day moving average price is $76.06 and its 200-day moving average price is $77.92. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $31.10 billion, a PE ratio of 172.43 and a beta of 0.82. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

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

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.