Harvest Fund Management Co. Ltd Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Harvest Fund Management Co. Ltd boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 52.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,878 shares of the technology company’s stock after purchasing an additional 6,517 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CoStar Group were worth $1,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its position in shares of CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares during the period. Bleakley Financial Group LLC raised its holdings in CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares during the last quarter. Moran Wealth Management LLC boosted its position in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its position in CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after purchasing an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its holdings in CoStar Group by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CSGP shares. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Performance

CoStar Group stock opened at $80.28 on Tuesday. The stock’s 50-day moving average is $75.54 and its 200-day moving average is $76.71. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 182.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

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

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was purchased 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 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

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.