Tocqueville Asset Management L.P. increased its position in CoStar Group Inc (NASDAQ:CSGP) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,105 shares of the technology company’s stock after purchasing an additional 900 shares during the period. Tocqueville Asset Management L.P.’s holdings in CoStar Group were worth $1,720,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of CSGP. CIBC Private Wealth Group LLC lifted its holdings in shares of CoStar Group by 95.9% in the 1st quarter. CIBC Private Wealth Group LLC now owns 180,334 shares of the technology company’s stock worth $84,111,000 after purchasing an additional 88,258 shares in the last quarter. FMR LLC lifted its holdings in shares of CoStar Group by 27.9% in the 1st quarter. FMR LLC now owns 311,860 shares of the technology company’s stock worth $145,458,000 after purchasing an additional 68,023 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in CoStar Group by 322.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 64,955 shares of the technology company’s stock valued at $30,296,000 after acquiring an additional 49,589 shares in the last quarter. First Trust Advisors LP lifted its stake in CoStar Group by 407.4% during the 2nd quarter. First Trust Advisors LP now owns 44,828 shares of the technology company’s stock valued at $24,837,000 after acquiring an additional 35,994 shares in the last quarter. Finally, Jag Capital Management LLC bought a new position in CoStar Group during the 2nd quarter valued at $16,769,000. Institutional investors own 95.81% of the company’s stock.
Shares of CSGP opened at $600.03 on Thursday. The business has a 50-day moving average price of $591.90. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $639.41. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 81.09, a P/E/G ratio of 4.66 and a beta of 1.32.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.22. CoStar Group had a return on equity of 10.42% and a net margin of 22.48%. The company had revenue of $343.76 million during the quarter, compared to analyst estimates of $336.71 million. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Sell-side analysts expect that CoStar Group Inc will post 9.01 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. JMP Securities raised their price objective on CoStar Group from $525.00 to $630.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Co raised their price objective on CoStar Group from $550.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods assumed coverage on CoStar Group in a research note on Tuesday, July 9th. They set an “outperform” rating and a $650.00 price objective on the stock. BidaskClub upgraded CoStar Group from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. CoStar Group has a consensus rating of “Buy” and a consensus target price of $621.60.
In other CoStar Group news, Director John W. Hill sold 315 shares of CoStar Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $553.23, for a total transaction of $174,267.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew C. Florance sold 24,210 shares of CoStar Group stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $628.64, for a total value of $15,219,374.40. The disclosure for this sale can be found here. In the last three months, insiders sold 46,109 shares of company stock valued at $28,803,346. 2.14% of the stock is currently owned by insiders.
CoStar Group Company 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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