CoStar Group Inc (CSGP) Position Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in CoStar Group Inc (NASDAQ:CSGP) by 39.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,197 shares of the technology company’s stock after buying an additional 4,546 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CoStar Group were worth $7,555,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. TD Asset Management Inc. grew its holdings in shares of CoStar Group by 3.5% during the first quarter. TD Asset Management Inc. now owns 28,962 shares of the technology company’s stock worth $13,508,000 after purchasing an additional 980 shares during the last quarter. Falcon Point Capital LLC purchased a new position in shares of CoStar Group during the first quarter worth about $297,000. Leisure Capital Management grew its holdings in shares of CoStar Group by 11.8% during the first quarter. Leisure Capital Management now owns 1,790 shares of the technology company’s stock worth $835,000 after purchasing an additional 189 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CoStar Group by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock worth $271,335,000 after purchasing an additional 22,555 shares during the last quarter. Finally, ETF Managers Group LLC grew its holdings in shares of CoStar Group by 7.9% during the first quarter. ETF Managers Group LLC now owns 394 shares of the technology company’s stock worth $184,000 after purchasing an additional 29 shares during the last quarter. 95.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CSGP opened at $514.08 on Friday. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $532.22. The stock has a market cap of $18.79 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 3.48 and a beta of 1.45.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.11. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The business had revenue of $328.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. Research analysts expect that CoStar Group Inc will post 9 EPS for the current fiscal year.

Several brokerages have issued reports on CSGP. Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $548.00 price objective on the stock in a report on Tuesday, April 30th. Needham & Company LLC raised their price objective on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Wells Fargo & Co increased their target price on shares of CoStar Group from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Bank of America increased their target price on shares of CoStar Group from $460.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. CoStar Group presently has an average rating of “Buy” and a consensus target price of $538.25.

In related news, VP Matthew Linnington sold 4,701 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $477.31, for a total value of $2,243,834.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew C. Florance sold 55,322 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $473.38, for a total transaction of $26,188,328.36. The disclosure for this sale can be found here. Insiders have sold 65,419 shares of company stock valued at $31,001,252 in the last quarter. Insiders own 2.47% of the company’s stock.

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CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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

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