CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,266 shares of the technology company’s stock after buying an additional 1,168 shares during the period. Atlantic Union Bankshares Corp’s holdings in CoStar Group were worth $2,208,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vulcan Value Partners LLC increased its position in shares of CoStar Group by 90.1% in the second 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. Select Equity Group L.P. acquired a new position in CoStar Group in the 2nd quarter worth approximately $60,761,000. Renaissance Technologies LLC purchased a new position in CoStar Group during the 2nd quarter worth approximately $46,692,000. Jupiter Asset Management Ltd. purchased a new position in CoStar Group during the 2nd quarter worth approximately $34,987,000. Finally, Icon Wealth Advisors LLC raised its stake in CoStar Group by 8,314.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after purchasing an additional 405,062 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Stock Performance

Shares of CSGP opened at $81.34 on Friday. The firm has a market cap of $33.35 billion, a price-to-earnings ratio of 184.86 and a beta of 0.82. The company’s fifty day moving average is $75.86 and its 200-day moving average is $76.66. 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, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

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