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

Icon Wealth Advisors LLC increased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 8,314.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,934 shares of the technology company’s stock after acquiring an additional 405,062 shares during the period. CoStar Group makes up about 1.2% of Icon Wealth Advisors LLC’s holdings, making the stock its 14th largest holding. Icon Wealth Advisors LLC’s holdings in CoStar Group were worth $30,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Avantax Advisory Services Inc. acquired a new stake in shares of CoStar Group in the first quarter valued at approximately $217,000. Covestor Ltd increased its position in CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares during the period. O Shaughnessy Asset Management LLC raised its position in CoStar Group by 34.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 15,301 shares of the technology company’s stock worth $1,478,000 after acquiring an additional 3,892 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of CoStar Group by 73.0% in the 1st quarter. Bessemer Group Inc. now owns 32,119 shares of the technology company’s stock valued at $3,102,000 after purchasing an additional 13,558 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in CoStar Group in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP stock opened at $76.99 on Friday. The firm has a fifty day moving average of $75.47 and a two-hundred day moving average of $77.07. The firm has a market cap of $31.56 billion, a P/E ratio of 174.98 and a beta of 0.82. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. 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 (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was acquired at an average price 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. This represents a 1.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred 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 transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.