Crewe Advisors LLC Purchases New Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Crewe Advisors LLC bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 326 shares of the technology company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares in the last quarter. Norges Bank purchased a new stake in shares of CoStar Group in the fourth quarter worth approximately $406,934,000. Blair William & Co. IL lifted its position in shares of CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after purchasing an additional 26,800 shares in the last quarter. Brown Advisory Inc. raised its position in CoStar Group by 10.1% during the fourth quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock valued at $362,207,000 after acquiring an additional 380,859 shares in the last quarter. Finally, Capital International Investors raised its position in CoStar Group by 32.2% during the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after acquiring an additional 982,837 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Up 2.0 %

CSGP stock traded up $1.49 during trading on Thursday, hitting $77.84. 3,764,598 shares of the company traded hands, compared to its average volume of 2,325,729. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The company has a 50-day moving average of $76.99 and a 200-day moving average of $84.02. The firm has a market capitalization of $31.79 billion, a PE ratio of 106.63, a P/E/G ratio of 13.02 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 4.01% and a net margin of 8.19%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Analysts predict that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group lifted their price target on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.08.

Insiders Place Their Bets

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

CoStar Group Company 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.