CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Barclays PLC

Barclays PLC grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 91.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,249,188 shares of the technology company’s stock after purchasing an additional 1,073,793 shares during the quarter. Barclays PLC owned approximately 0.55% of CoStar Group worth $169,678,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vulcan Value Partners LLC lifted its position in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after buying an additional 1,961,917 shares during the period. Select Equity Group L.P. acquired a new position in shares of CoStar Group during the 2nd quarter valued at about $60,761,000. State Street Corp lifted its holdings in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of CoStar Group during the 3rd quarter worth about $48,768,000. Finally, Renaissance Technologies LLC purchased a new stake in CoStar Group in the second quarter valued at approximately $46,692,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

CSGP stock opened at $76.43 on Wednesday. The stock’s 50 day moving average is $76.26 and its two-hundred day moving average is $76.15. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market capitalization of $31.33 billion, a PE ratio of 173.70 and a beta of 0.83. 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 results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael R. Klein sold 71,633 shares of the 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 sale, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.