Mediolanum International Funds Ltd Purchases New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Mediolanum International Funds Ltd purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGPFree Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 72,556 shares of the technology company’s stock, valued at approximately $6,981,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in CoStar Group during the 4th quarter worth about $406,934,000. Capital International Investors boosted its position in CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after acquiring an additional 982,837 shares during the period. Capital Research Global Investors boosted its position in CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after acquiring an additional 796,386 shares during the period. Westfield Capital Management Co. LP boosted its position in CoStar Group by 109.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after acquiring an additional 731,375 shares during the period. Finally, Wellington Management Group LLP boosted its position in CoStar Group by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after acquiring an additional 662,592 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSGP. The Goldman Sachs Group raised their price objective on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a research report on Tuesday, June 18th. Needham & Company LLC raised their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their price target on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.46.

Get Our Latest Stock Report on CSGP

CoStar Group Stock Performance

Shares of CSGP stock traded up $0.25 during trading on Wednesday, reaching $71.84. The company had a trading volume of 3,583,709 shares, compared to its average volume of 2,252,236. The firm’s 50 day simple moving average is $80.46 and its two-hundred day simple moving average is $84.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a market capitalization of $29.34 billion, a PE ratio of 97.82, a PEG ratio of 10.82 and a beta of 0.81.

CoStar Group (NASDAQ:CSGPGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $656.40 million for the quarter, compared to the consensus estimate of $649.27 million. Sell-side analysts forecast that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

About CoStar Group

(Free Report)

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.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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