UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 0.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,096,255 shares of the technology company’s stock after buying an additional 9,999 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CoStar Group were worth $158,141,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the third quarter valued at approximately $40,000. Swedbank AB purchased a new position in CoStar Group in the 1st quarter valued at $4,223,000. Gateway Investment Advisers LLC boosted its stake in CoStar Group by 31.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock worth $3,005,000 after purchasing an additional 9,618 shares during the last quarter. Telemark Asset Management LLC grew its holdings in shares of CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after buying an additional 150,000 shares in the last quarter. Finally, First Hawaiian Bank raised its position in shares of CoStar Group by 111.9% in the second quarter. First Hawaiian Bank now owns 16,726 shares of the technology company’s stock valued at $1,240,000 after buying an additional 8,833 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CSGP shares. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

In other news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were 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 approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Trading Down 0.8 %

NASDAQ CSGP opened at $81.34 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The firm has a market cap of $33.35 billion, a price-to-earnings ratio of 184.86 and a beta of 0.82. The firm has a 50 day simple moving average of $75.86 and a 200-day simple moving average of $76.59. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.