Summit Trail Advisors LLC Raises Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Summit Trail Advisors LLC grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 106.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,530 shares of the technology company’s stock after purchasing an additional 3,367 shares during the period. Summit Trail Advisors LLC’s holdings in CoStar Group were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CSGP. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after acquiring an additional 138 shares during the last quarter. Moran Wealth Management LLC increased its stake in shares of CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares during the last quarter. S.E.E.D. Planning Group LLC increased its stake in shares of CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after acquiring an additional 172 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after acquiring an additional 188 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Citigroup dropped their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. One research 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. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Down 0.4 %

NASDAQ CSGP opened at $79.92 on Wednesday. The stock has a market cap of $32.76 billion, a PE ratio of 181.64 and a beta of 0.82. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The business has a 50 day moving average price of $75.62 and a two-hundred day moving average price of $76.64. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

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.