Davis Capital Management Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Davis Capital Management grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 5.4% during the second quarter, HoldingsChannel.com reports. The fund owned 11,260 shares of the technology company’s stock after purchasing an additional 574 shares during the quarter. Davis Capital Management’s holdings in CoStar Group were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in CoStar Group during the 4th quarter worth $406,934,000. Janus Henderson Group PLC increased its stake in CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares during the period. Capital International Investors increased its stake in CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after buying an additional 982,837 shares during the period. Capital Research Global Investors increased its stake in CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after buying an additional 796,386 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in CoStar Group by 109.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after buying an additional 731,375 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In related news, Director John W. Hill 1,325 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CSGP shares. Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada dropped their target price on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their target price on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, Stephens reissued an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.08.

CoStar Group Stock Performance

CoStar Group stock traded down $1.87 during midday trading on Friday, reaching $75.27. 2,988,547 shares of the stock traded hands, compared to its average volume of 2,745,817. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $75.90 and a two-hundred day moving average price of $83.82. The firm has a market cap of $30.85 billion, a price-to-earnings ratio of 103.11, a PEG ratio of 11.45 and a beta of 0.81. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. CoStar Group’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

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.