Insight Wealth Strategies LLC Buys 1,632 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Insight Wealth Strategies LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,815 shares of the technology company’s stock after buying an additional 1,632 shares during the period. Insight Wealth Strategies LLC’s holdings in CoStar Group were worth $3,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the 3rd quarter valued at approximately $40,000. Quarry LP acquired a new stake in CoStar Group in the second quarter worth $54,000. Brooklyn Investment Group bought a new position in shares of CoStar Group during the third quarter worth $91,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CoStar Group in the 2nd quarter valued at $104,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after buying an additional 488 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price 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 approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group 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 transaction, the director now directly 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. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CSGP. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. Finally, BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Stock Down 1.1 %

CSGP stock traded down $0.83 during mid-day trading on Monday, reaching $71.42. The company had a trading volume of 1,021,118 shares, compared to its average volume of 1,762,970. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 162.32 and a beta of 0.85. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a 50 day simple moving average of $75.28 and a two-hundred day simple moving average of $75.52. 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 results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, equities analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal 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.