China Universal Asset Management Co. Ltd. Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

China Universal Asset Management Co. Ltd. boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 111.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,198 shares of the technology company’s stock after buying an additional 2,742 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in CoStar Group were worth $392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of CoStar Group in the 1st quarter valued at about $4,223,000. SG Americas Securities LLC increased its stake in CoStar Group by 390.8% in the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after purchasing an additional 79,467 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in CoStar Group by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after purchasing an additional 17,658 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in CoStar Group by 5.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock worth $46,145,000 after purchasing an additional 23,987 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of CoStar Group during the 1st quarter worth approximately $802,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reduced their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Activity at CoStar Group

In related news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

NASDAQ CSGP opened at $73.46 on Thursday. The stock has a market capitalization of $30.12 billion, a price-to-earnings ratio of 166.96 and a beta of 0.81. The business’s 50 day moving average is $76.37 and its two-hundred day moving average is $78.54. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. Research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current 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.