LPL Financial LLC Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

LPL Financial LLC lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,089 shares of the technology company’s stock after buying an additional 1,889 shares during the quarter. LPL Financial LLC’s holdings in CoStar Group were worth $5,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSGP. Vanguard Group Inc. grew its stake in shares of CoStar Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock worth $2,315,223,000 after purchasing an additional 204,955 shares during the period. Geode Capital Management LLC increased its holdings in CoStar Group by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 9,313,249 shares of the technology company’s stock valued at $718,576,000 after buying an additional 415,176 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of CoStar Group by 2.2% during the 2nd quarter. Macquarie Group Ltd. now owns 8,429,294 shares of the technology company’s stock worth $509,214,000 after acquiring an additional 180,066 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of CoStar Group by 43.4% during the 1st quarter. Bank of New York Mellon Corp now owns 5,212,851 shares of the technology company’s stock valued at $358,905,000 after acquiring an additional 1,578,782 shares during the period. Finally, Bank of America Corp DE grew its position in shares of CoStar Group by 4.8% during the 4th quarter. Bank of America Corp DE now owns 4,218,087 shares of the technology company’s stock valued at $325,974,000 after acquiring an additional 192,028 shares during the period. 96.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Needham & Company LLC raised their price objective on CoStar Group from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Truist Financial boosted their price target on shares of CoStar Group from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. TheStreet raised shares of CoStar Group from a “c+” rating to a “b” rating in a report on Tuesday, July 25th. Royal Bank of Canada boosted their target price on shares of CoStar Group from $85.00 to $95.00 in a research note on Thursday, July 6th. Finally, StockNews.com started coverage on CoStar Group in a research note on Thursday, August 17th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Insider Activity

In related news, CFO Scott T. Wheeler sold 24,670 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.68, for a total value of $1,990,375.60. Following the sale, the chief financial officer now owns 346,244 shares of the company’s stock, valued at $27,934,965.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Scott T. Wheeler sold 24,670 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.68, for a total value of $1,990,375.60. Following the transaction, the chief financial officer now owns 346,244 shares of the company’s stock, valued at $27,934,965.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Frank Simuro sold 92,300 shares of CoStar Group stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total value of $8,274,695.00. Following the sale, the chief technology officer now directly owns 264,483 shares of the company’s stock, valued at $23,710,900.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,474 shares of company stock worth $15,103,488. 1.58% of the stock is currently owned by company insiders.

CoStar Group Trading Up 0.7 %

Shares of CSGP stock opened at $82.57 on Friday. The stock has a market capitalization of $33.72 billion, a P/E ratio of 86.92, a price-to-earnings-growth ratio of 3.76 and a beta of 0.90. CoStar Group, Inc. has a fifty-two week low of $65.12 and a fifty-two week high of $92.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 12.30 and a current ratio of 12.30. The company has a 50 day moving average price of $84.68 and a 200 day moving average price of $77.77.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $605.91 million for the quarter, compared to analyst estimates of $607.49 million. CoStar Group had a return on equity of 6.61% and a net margin of 16.56%. Equities research analysts predict that CoStar Group, Inc. will post 1.09 EPS for the current fiscal year.

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.