CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Huntington National Bank

Huntington National Bank lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 9.4% during the third quarter, HoldingsChannel.com reports. The firm owned 3,862 shares of the technology company’s stock after purchasing an additional 332 shares during the period. Huntington National Bank’s holdings in CoStar Group were worth $291,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Crewe Advisors LLC acquired a new position in CoStar Group during the first quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group in the 2nd quarter worth approximately $49,000. Quarry LP purchased a new position in CoStar Group in the 2nd quarter valued at approximately $54,000. Finally, Covestor Ltd raised its holdings in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSGP shares. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Citigroup lowered their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $71.25 on Friday. The business has a fifty day simple moving average of $75.82 and a 200-day simple moving average of $77.52. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a market cap of $29.21 billion, a P/E ratio of 161.93 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data 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 net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

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