Riverbridge Partners LLC Acquires 101,867 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Riverbridge Partners LLC increased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 5.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,943,883 shares of the technology company’s stock after purchasing an additional 101,867 shares during the quarter. CoStar Group accounts for approximately 1.9% of Riverbridge Partners LLC’s holdings, making the stock its 16th largest position. Riverbridge Partners LLC’s holdings in CoStar Group were worth $139,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Davis Capital Management raised its stake in CoStar Group by 6.3% during the 4th quarter. Davis Capital Management now owns 13,456 shares of the technology company’s stock worth $963,000 after acquiring an additional 792 shares during the period. Perfromance Wealth Partners LLC purchased a new stake in shares of CoStar Group in the fourth quarter worth about $205,000. Solidarity Wealth LLC purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $2,714,000. Aurora Investment Managers LLC. raised its stake in CoStar Group by 1.5% during the fourth quarter. Aurora Investment Managers LLC. now owns 22,193 shares of the technology company’s stock valued at $1,589,000 after purchasing an additional 336 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in CoStar Group by 6.1% during the fourth quarter. UMB Bank n.a. now owns 82,653 shares of the technology company’s stock valued at $5,917,000 after purchasing an additional 4,778 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSGP has been the subject of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective 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. Citigroup reduced their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.92.

Insiders Place Their Bets

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value 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 $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 corporate insiders.

CoStar Group Stock Down 0.2 %

Shares of NASDAQ:CSGP opened at $74.01 on Thursday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $74.61 and its 200 day moving average is $75.35. The stock has a market cap of $30.34 billion, a P/E ratio of 168.21 and a beta of 0.85. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its 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. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.