Diversified Trust Co Boosts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Diversified Trust Co lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,789 shares of the technology company’s stock after acquiring an additional 301 shares during the quarter. Diversified Trust Co’s holdings in CoStar Group were worth $271,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in CoStar Group during the 3rd quarter worth approximately $40,000. JPMorgan Chase & Co. grew its position in shares of 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. Telemark Asset Management LLC increased its stake in shares of CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after buying an additional 150,000 shares during the last quarter. Swedbank AB raised its holdings in CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after acquiring an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after acquiring an additional 14,468 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity

In related 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 transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

CSGP stock opened at $69.87 on Friday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The stock has a market capitalization of $28.64 billion, a price-to-earnings ratio of 158.80 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. The stock’s fifty day moving average is $75.04 and its two-hundred day moving average is $75.40.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. On average, research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Thursday, January 2nd. William Blair restated an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. BMO Capital Markets lowered their price target on 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, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.08.

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.