BNP Paribas Financial Markets Purchases 317,017 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

BNP Paribas Financial Markets boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 33.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,260,157 shares of the technology company’s stock after acquiring an additional 317,017 shares during the quarter. BNP Paribas Financial Markets’ holdings in CoStar Group were worth $95,066,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its position in CoStar Group by 49.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,087 shares of the technology company’s stock valued at $491,000 after purchasing an additional 1,673 shares during the last quarter. California State Teachers Retirement System raised its holdings in CoStar Group by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 656,559 shares of the technology company’s stock valued at $63,424,000 after buying an additional 6,381 shares during the last quarter. Tidal Investments LLC boosted its position in CoStar Group by 8.2% during the 1st quarter. Tidal Investments LLC now owns 13,095 shares of the technology company’s stock worth $1,265,000 after buying an additional 998 shares during the period. Comerica Bank grew its holdings in CoStar Group by 3.5% during the 1st quarter. Comerica Bank now owns 129,288 shares of the technology company’s stock worth $12,489,000 after acquiring an additional 4,393 shares during the last quarter. Finally, LBP AM SA increased its position in CoStar Group by 94.9% in the 1st quarter. LBP AM SA now owns 10,575 shares of the technology company’s stock valued at $1,022,000 after acquiring an additional 5,149 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Down 0.4 %

CSGP opened at $79.92 on Wednesday. The firm has a market capitalization of $32.76 billion, a PE ratio of 181.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company’s 50-day moving average is $75.62 and its 200 day moving average is $76.64.

CoStar Group (NASDAQ:CSGP) last released its quarterly 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 return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the firm posted $0.25 EPS. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lowered their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Buying and Selling

In other news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

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.