Bleakley Financial Group LLC Has $829,000 Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Bleakley Financial Group LLC raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,579 shares of the technology company’s stock after acquiring an additional 608 shares during the quarter. Bleakley Financial Group LLC’s holdings in CoStar Group were worth $829,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. Riverview Trust Co bought a new position in shares of CoStar Group in the first quarter valued at approximately $35,000. Pinnacle Bancorp Inc. acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $37,000. RiverPark Advisors LLC bought a new stake in CoStar Group during the 1st quarter worth approximately $37,000. Finally, Connectus Wealth LLC increased its holdings in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after purchasing an additional 467,534 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP opened at $75.92 on Thursday. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a market cap of $31.00 billion, a PE ratio of 104.00, a price-to-earnings-growth ratio of 11.46 and a beta of 0.81. The firm has a 50-day moving average of $78.59 and a 200-day moving average of $84.35. 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 (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The business had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSGP shares. Needham & Company LLC boosted their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. BMO Capital Markets increased their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. The Goldman Sachs Group upped their target price on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $109.00 target price on shares of CoStar Group in a research report on Friday, June 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.77.

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.