CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 14.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,823 shares of the technology company’s stock after purchasing an additional 10,730 shares during the quarter. KBC Group NV’s holdings in CoStar Group were worth $6,324,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vulcan Value Partners LLC boosted its holdings in shares of CoStar Group by 90.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC lifted its position in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the last quarter. Select Equity Group L.P. acquired a new position in CoStar Group in the second quarter valued at $60,761,000. Renaissance Technologies LLC purchased a new position in shares of CoStar Group during the second quarter worth about $46,692,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of CoStar Group during the second quarter worth about $34,987,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $71.25 on Monday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a 50-day moving average price of $75.82 and a 200 day moving average price of $77.33. The company has a market cap of $29.21 billion, a P/E ratio of 161.94 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. The Goldman Sachs Group cut their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

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.