First Trust Advisors LP Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

First Trust Advisors LP lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 231.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 301,926 shares of the technology company’s stock after purchasing an additional 210,890 shares during the quarter. First Trust Advisors LP owned about 0.07% of CoStar Group worth $23,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CSGP. Catalyst Capital Advisors LLC purchased a new position in shares of CoStar Group during the 4th quarter worth $25,000. Castleview Partners LLC boosted its holdings in CoStar Group by 72.8% during the 4th quarter. Castleview Partners LLC now owns 368 shares of the technology company’s stock valued at $28,000 after acquiring an additional 155 shares during the period. FourThought Financial LLC boosted its holdings in CoStar Group by 232.3% during the 3rd quarter. FourThought Financial LLC now owns 432 shares of the technology company’s stock valued at $30,000 after acquiring an additional 302 shares during the period. CVA Family Office LLC boosted its holdings in CoStar Group by 43.4% during the 3rd quarter. CVA Family Office LLC now owns 545 shares of the technology company’s stock valued at $38,000 after acquiring an additional 165 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in CoStar Group during the 4th quarter valued at about $39,000. 97.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSGP shares. JMP Securities restated a “market outperform” rating and set a $85.00 target price on shares of CoStar Group in a report on Wednesday, February 22nd. BMO Capital Markets lowered their target price on CoStar Group from $84.00 to $68.00 and set a “market perform” rating for the company in a report on Wednesday, February 22nd. Stephens lowered their target price on CoStar Group from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. StockNews.com assumed coverage on CoStar Group in a research note on Thursday. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group decreased their price objective on CoStar Group from $102.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.08.

CoStar Group Stock Up 0.6 %

CoStar Group stock opened at $78.50 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.21 and a quick ratio of 13.21. CoStar Group, Inc. has a 1-year low of $54.02 and a 1-year high of $85.37. The company has a market cap of $32.07 billion, a PE ratio of 86.26, a price-to-earnings-growth ratio of 3.65 and a beta of 0.88. The stock’s 50 day moving average price is $70.84 and its 200 day moving average price is $75.38.

CoStar Group (NASDAQ:CSGP – Get Rating) last posted its earnings results on Tuesday, February 21st. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $573.35 million for the quarter, compared to the consensus estimate of $567.96 million. CoStar Group had a return on equity of 6.73% and a net margin of 16.32%. On average, sell-side analysts predict that CoStar Group, Inc. will post 1.07 EPS for the current fiscal year.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,600 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $70.36, for a total value of $394,016.00. Following the completion of the transaction, the insider now directly owns 44,846 shares of the company’s stock, valued at $3,155,364.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.

CoStar Group Profile

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CoStar Group, Inc engages in providing online real estate marketplaces, information, and analytics in the commercial and residential property markets. It operates through the North America and International geographical segments. The North America segment includes the Unites States and Canada. The International refers to Europe, Asia-Pacific, and Latin America.