Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,562 shares of the technology company's stock after buying an additional 13,873 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CoStar Group were worth $13,395,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the 3rd quarter worth $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the 2nd quarter valued at about $49,000. Quarry LP purchased a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $54,000. Rothschild Investment LLC acquired a new stake in shares of CoStar Group during the 2nd quarter worth approximately $73,000. Finally, Blue Trust Inc. increased its holdings in shares of CoStar Group by 493.4% during the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock worth $80,000 after buying an additional 898 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.
In related news, CEO Andrew C. Florance purchased 14,731 shares of the company's stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company's stock.
NASDAQ:CSGP opened at $81.34 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market cap of $33.35 billion, a PE ratio of 184.86 and a beta of 0.82. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $75.86 and a 200 day moving average price of $76.59.
CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 3.53% and a net margin of 6.57%. The business's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the company. Royal Bank of Canada lowered CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their price objective 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 set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective on shares of CoStar Group in a report on Tuesday, November 19th. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. 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 note on Wednesday, October 23rd. One equities 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.
Get Our Latest Research Report on CoStar Group
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.
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