Douglas Lane & Associates LLC Purchases Shares of 383,384 CoStar Group, Inc. (NASDAQ:CSGP)

Douglas Lane & Associates LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 383,384 shares of the technology company’s stock, valued at approximately $27,446,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group in the third quarter worth about $40,000. Quarry LP bought a new stake in shares of CoStar Group in the second quarter worth about $54,000. Brooklyn Investment Group bought a new stake in shares of CoStar Group in the third quarter worth about $91,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of CoStar Group by 55.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after purchasing an additional 488 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CoStar Group in the second quarter worth about $104,000. 96.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Monday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Trading Up 1.6 %

Shares of NASDAQ CSGP traded up $1.13 during trading hours on Wednesday, reaching $71.49. The stock had a trading volume of 718,855 shares, compared to its average volume of 1,811,856. 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 firm has a market cap of $29.31 billion, a price-to-earnings ratio of 162.48 and a beta of 0.85. The business’s fifty day moving average price is $75.16 and its two-hundred day moving average price is $75.48. 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 quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

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.