Principal Securities Inc. Buys New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Principal Securities Inc. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGPFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,203 shares of the technology company’s stock, valued at approximately $2,290,000.

A number of other hedge funds have also added to or reduced their stakes in CSGP. Commonwealth Equity Services LLC grew its position in CoStar Group by 2.2% in the third quarter. Commonwealth Equity Services LLC now owns 25,340 shares of the technology company’s stock valued at $1,948,000 after purchasing an additional 552 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CoStar Group by 5.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,165 shares of the technology company’s stock valued at $5,395,000 after purchasing an additional 3,571 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in CoStar Group by 18.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 442,963 shares of the technology company’s stock valued at $34,059,000 after purchasing an additional 68,501 shares in the last quarter. Advisor Partners II LLC grew its position in CoStar Group by 21.4% in the third quarter. Advisor Partners II LLC now owns 6,773 shares of the technology company’s stock valued at $521,000 after purchasing an additional 1,196 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in CoStar Group by 0.9% in the third quarter. TD Asset Management Inc now owns 688,764 shares of the technology company’s stock valued at $52,959,000 after acquiring an additional 6,061 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.

CoStar Group Price Performance

CSGP stock traded down $1.46 during mid-day trading on Friday, hitting $89.88. The stock had a trading volume of 1,597,000 shares, compared to its average volume of 2,197,361. The firm has a market capitalization of $36.70 billion, a P/E ratio of 123.12, a P/E/G ratio of 10.22 and a beta of 0.84. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $91.07 and a 200 day simple moving average of $85.52. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGPGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. As a group, research analysts forecast that CoStar Group, Inc. will post 0.45 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. BMO Capital Markets increased their price target on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Jefferies Financial Group increased their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, Robert W. Baird raised their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $102.46.

Check Out Our Latest Stock Analysis on CoStar Group

CoStar Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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