Columbus Circle Investors lifted its position in shares of CoStar Group (NASDAQ:CSGP) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,227 shares of the technology company’s stock after purchasing an additional 10,828 shares during the quarter. Columbus Circle Investors owned 0.28% of CoStar Group worth $37,076,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lenox Wealth Advisors Inc. bought a new stake in CoStar Group in the 4th quarter valued at $102,000. Cerebellum GP LLC bought a new stake in CoStar Group in the 4th quarter valued at $129,000. Corient Capital Partners LLC bought a new stake in CoStar Group in the 4th quarter valued at $204,000. Hengehold Capital Management LLC bought a new stake in CoStar Group in the 4th quarter valued at $206,000. Finally, IFM Investors Pty Ltd bought a new stake in CoStar Group in the 4th quarter valued at $219,000. 97.37% of the stock is currently owned by institutional investors.
Several research firms recently commented on CSGP. BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. ValuEngine raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $415.00 price objective on the stock in a research report on Thursday, April 26th. Needham & Company LLC boosted their price objective on shares of CoStar Group to $450.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, SunTrust Banks boosted their price objective on shares of CoStar Group to $435.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. CoStar Group presently has a consensus rating of “Buy” and an average target price of $388.45.
In other news, VP Matthew Linnington sold 7,921 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $348.23, for a total transaction of $2,758,329.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew C. Florance sold 24,821 shares of the business’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $371.03, for a total transaction of $9,209,335.63. The disclosure for this sale can be found here. Insiders have sold a total of 63,863 shares of company stock worth $23,271,202 over the last three months. Insiders own 2.47% of the company’s stock.
Shares of NASDAQ:CSGP opened at $375.87 on Friday. CoStar Group has a one year low of $383.44 and a one year high of $388.00. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 84.87, a price-to-earnings-growth ratio of 3.43 and a beta of 1.53.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Monday, April 23rd. The technology company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.37 by $0.28. CoStar Group had a net margin of 15.09% and a return on equity of 6.97%. The firm had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $270.56 million. During the same period in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. sell-side analysts anticipate that CoStar Group will post 6.63 earnings per share for the current fiscal year.
CoStar Group Profile
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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