B. Metzler seel. Sohn & Co. Holding AG Acquires New Stake in CoStar Group, Inc. (NASDAQ:CSGP)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,888 shares of the technology company’s stock, valued at approximately $1,500,000.

A number of other large investors have also modified their holdings of the business. Picton Mahoney Asset Management grew its stake in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of 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 purchasing an additional 138 shares in the last quarter. S.E.E.D. Planning Group LLC increased its holdings in shares of CoStar Group by 0.5% in the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its position in CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in CoStar Group by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company’s stock worth $2,600,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $79.81 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a 50-day simple moving average of $75.49 and a 200-day simple moving average of $76.99. The stock has a market capitalization of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSGP has been the topic of several analyst reports. Citigroup reduced their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $96.00 to $83.00 in a research report 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 for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.