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

KBC Group NV grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 14.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,823 shares of the technology company’s stock after acquiring an additional 10,730 shares during the quarter. KBC Group NV’s holdings in CoStar Group were worth $6,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSGP. Vulcan Value Partners LLC grew its stake in CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of CoStar Group in the second quarter valued at approximately $60,761,000. Renaissance Technologies LLC acquired a new stake in shares of CoStar Group in the second quarter valued at approximately $46,692,000. Finally, Jupiter Asset Management Ltd. purchased a new position in CoStar Group during the second quarter worth approximately $34,987,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup decreased their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report 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 for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were bought 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 1.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Price Performance

CSGP stock opened at $71.25 on Monday. The business’s fifty day moving average price is $75.82 and its 200 day moving average price is $77.33. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $29.21 billion, a PE ratio of 161.94 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

CoStar Group 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.