CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 20.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 466,562 shares of the technology company’s stock after purchasing an additional 80,241 shares during the quarter. ProShare Advisors LLC owned approximately 0.11% of CoStar Group worth $45,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 worth $27,000 after purchasing an additional 173 shares in the last quarter. Riverview Trust Co acquired a new position in shares of CoStar Group in the 1st quarter valued at $35,000. RiverPark Advisors LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at $37,000. TFO Wealth Partners LLC increased its holdings in shares of CoStar Group by 5,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after acquiring an additional 390 shares during the period. Finally, Pinnacle Bancorp Inc. acquired a new position in shares of CoStar Group in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSGP. The Goldman Sachs Group lifted their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. BMO Capital Markets lifted their target price on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Needham & Company LLC lifted their target price on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research report on Tuesday, June 18th. Finally, Stephens reiterated an “overweight” rating and issued a $105.00 price objective on shares of CoStar Group in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.77.

Insider Activity at CoStar Group

In related news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $0.94 during trading on Wednesday, hitting $76.03. 1,729,810 shares of the company were exchanged, compared to its average volume of 2,256,658. The company has a market cap of $31.05 billion, a price-to-earnings ratio of 104.77, a PEG ratio of 11.32 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The firm’s fifty day moving average price is $78.88 and its 200 day moving average price is $84.41.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

About CoStar Group

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.