ICICI Prudential Asset Management Co Ltd Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

ICICI Prudential Asset Management Co Ltd lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,349 shares of the technology company’s stock after purchasing an additional 862 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in CoStar Group were worth $404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares in the last quarter. Janus Henderson Group PLC raised its holdings in 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 acquiring an additional 1,773,564 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after acquiring an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC grew its holdings 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 worth $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of CoStar Group by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,652,774 shares of the technology company’s stock worth $256,258,000 after purchasing an additional 238,461 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The stock was 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael R. Klein sold 71,633 shares of the business’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 directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CSGP shares. Needham & Company LLC reduced their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research 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. JPMorgan Chase & Co. lowered their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Up 0.5 %

CSGP opened at $75.77 on Thursday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a market cap of $31.06 billion, a P/E ratio of 172.21 and a beta of 0.82. The stock’s 50 day moving average price is $76.02 and its 200 day moving average price is $77.70. 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 (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the firm posted $0.25 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts predict that CoStar Group, Inc. will post 0.52 earnings per share 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.