Harvest Fund Management Co. Ltd Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Harvest Fund Management Co. Ltd lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,589 shares of the technology company’s stock after buying an additional 376 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CoStar Group were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CSGP. Blue Trust Inc. raised its holdings in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after acquiring an additional 173 shares during the period. Pinnacle Bancorp Inc. bought a new stake in CoStar Group during the fourth quarter valued at about $37,000. CVA Family Office LLC bought a new stake in CoStar Group during the fourth quarter valued at about $60,000. KB Financial Partners LLC raised its holdings in CoStar Group by 17.9% during the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after acquiring an additional 124 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in CoStar Group by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock valued at $107,000 after acquiring an additional 540 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CSGP. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a report on Friday, April 12th. Royal Bank of Canada lifted their target price on CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. BMO Capital Markets lifted their target price on CoStar Group from $79.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday. Finally, Bank of America lifted their target price on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.15.

CoStar Group Trading Up 8.7 %

Shares of NASDAQ:CSGP traded up $7.33 during trading hours on Wednesday, hitting $91.95. 4,732,765 shares of the company’s stock traded hands, compared to its average volume of 2,194,093. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The business has a fifty day moving average price of $89.21 and a 200-day moving average price of $84.59. The firm has a market capitalization of $37.55 billion, a P/E ratio of 99.95, a price-to-earnings-growth ratio of 9.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts expect that CoStar Group, Inc. will post 0.44 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.