SlateStone Wealth LLC Boosts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

SlateStone Wealth LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 19.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,041 shares of the technology company’s stock after purchasing an additional 5,624 shares during the quarter. SlateStone Wealth LLC’s holdings in CoStar Group were worth $2,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC raised its holdings in shares of CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after acquiring an additional 145 shares in the last quarter. DoubleLine ETF Adviser LP raised its holdings in CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock worth $2,105,000 after purchasing an additional 146 shares in the last quarter. Aurora Investment Managers LLC. raised its holdings in CoStar Group by 0.7% in the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company’s stock worth $1,771,000 after purchasing an additional 164 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in CoStar Group by 5.0% in the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company’s stock worth $297,000 after purchasing an additional 179 shares in the last quarter. Finally, CVA Family Office LLC raised its holdings in CoStar Group by 28.3% in the first quarter. CVA Family Office LLC now owns 843 shares of the technology company’s stock worth $67,000 after purchasing an additional 186 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the sale, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the sale, the insider directly owned 319,539 shares of the company’s stock, valued at $29,790,620.97. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSGP. BMO Capital Markets upped their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. JMP Securities restated a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Citigroup upped their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 24th. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday, July 23rd. Finally, Robert W. Baird upped their target price on CoStar Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Trading Up 2.4%

Shares of CSGP stock opened at $95.59 on Wednesday. The stock’s fifty day moving average is $81.47 and its two-hundred day moving average is $78.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The firm has a market capitalization of $40.50 billion, a P/E ratio of 382.36, a PEG ratio of 4.55 and a beta of 0.89. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $95.66.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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.