Trust Point Inc. Boosts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Trust Point Inc. lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 206.0% during the 4th quarter, HoldingsChannel reports. The fund owned 10,685 shares of the technology company’s stock after acquiring an additional 7,193 shares during the period. Trust Point Inc.’s holdings in CoStar Group were worth $765,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC raised its holdings in CoStar Group by 1.6% in the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after buying an additional 138 shares during the period. Moran Wealth Management LLC increased its position in shares of CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after acquiring an additional 161 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after acquiring an additional 209 shares during the period. Bell Bank raised its stake in shares of CoStar Group by 1.3% in the 3rd quarter. Bell Bank now owns 18,232 shares of the technology company’s stock valued at $1,375,000 after acquiring an additional 234 shares during the period. Finally, Regatta Capital Group LLC boosted its position in CoStar Group by 2.0% during the 3rd quarter. Regatta Capital Group LLC now owns 11,906 shares of the technology company’s stock worth $898,000 after purchasing an additional 239 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Up 0.9 %

Shares of CoStar Group stock opened at $77.46 on Wednesday. The business has a 50-day moving average price of $74.60 and a 200 day moving average price of $75.42. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market cap of $31.76 billion, a P/E ratio of 176.05 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Citigroup lowered their price objective on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. 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 research note on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.33.

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.