Wilmington Savings Fund Society FSB Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Wilmington Savings Fund Society FSB acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,388 shares of the technology company’s stock, valued at approximately $256,000.

A number of other institutional investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its position in shares of CoStar Group by 6.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,370 shares of the technology company’s stock valued at $481,000 after buying an additional 391 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after buying an additional 236,407 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of CoStar Group by 7,715.2% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,158 shares of the technology company’s stock valued at $389,000 after buying an additional 5,092 shares during the last quarter. Brophy Wealth Management LLC purchased a new position in shares of CoStar Group during the 3rd quarter valued at $347,000. Finally, M&T Bank Corp lifted its position in shares of CoStar Group by 3.4% during the 3rd quarter. M&T Bank Corp now owns 24,330 shares of the technology company’s stock valued at $1,835,000 after buying an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $73.13 on Wednesday. The firm has a market capitalization of $29.98 billion, a P/E ratio of 166.21 and a beta of 0.83. 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 stock’s 50-day simple moving average is $76.45 and its two-hundred day simple moving average is $75.89. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for 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%. The company’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Citigroup dropped their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Company 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.