Gateway Investment Advisers LLC Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Gateway Investment Advisers LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 41.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 43,077 shares of the technology company’s stock after buying an additional 12,692 shares during the period. Gateway Investment Advisers LLC’s holdings in CoStar Group were worth $3,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. S.E.E.D. Planning Group LLC increased its holdings in CoStar Group by 7.1% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 48,345 shares of the technology company’s stock valued at $3,461,000 after acquiring an additional 3,184 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of CoStar Group by 1.9% in the fourth quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company’s stock worth $2,081,000 after buying an additional 542 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of CoStar Group by 39.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,366 shares of the technology company’s stock worth $28,734,000 after buying an additional 113,925 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in CoStar Group by 40.1% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,480 shares of the technology company’s stock valued at $464,000 after buying an additional 1,854 shares during the last quarter. Finally, Czech National Bank grew its holdings in CoStar Group by 6.5% during the 4th quarter. Czech National Bank now owns 88,888 shares of the technology company’s stock valued at $6,363,000 after buying an additional 5,404 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets cut their target price on 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. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $92.92.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’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 sale, the director now owns 1,913,501 shares in the company, valued at approximately $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 currently owned by company insiders.

CoStar Group Price Performance

CoStar Group stock opened at $73.85 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock has a market cap of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85. The firm has a 50-day moving average of $74.74 and a two-hundred day moving average of $75.33. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38.

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