Fred Alger Management LLC Purchases 3,811 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Fred Alger Management LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 289,056 shares of the technology company’s stock after buying an additional 3,811 shares during the period. Fred Alger Management LLC owned about 0.07% of CoStar Group worth $21,806,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CSGP. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after buying an additional 135 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of CoStar Group by 1.6% in the 3rd 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 stake in CoStar Group by 2.0% in the 3rd 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 stake in CoStar Group by 0.5% in the 2nd 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 position in 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 purchasing an additional 188 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

NASDAQ CSGP opened at $81.34 on Friday. The company has a 50-day moving average price of $75.86 and a 200-day moving average price of $76.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $33.35 billion, a P/E ratio of 184.86 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CSGP shares. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One equities 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

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.