Northern Trust Corp Acquires 5,466 Shares of CoStar Group Inc (NASDAQ:CSGP)

Northern Trust Corp boosted its holdings in CoStar Group Inc (NASDAQ:CSGP) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,805 shares of the technology company’s stock after acquiring an additional 5,466 shares during the quarter. Northern Trust Corp owned 0.66% of CoStar Group worth $133,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Korea Investment CORP boosted its position in CoStar Group by 7.4% in the second quarter. Korea Investment CORP now owns 7,300 shares of the technology company’s stock valued at $4,045,000 after buying an additional 500 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in CoStar Group by 7.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 10,499 shares of the technology company’s stock valued at $5,817,000 after buying an additional 725 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in CoStar Group by 3.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 125,031 shares of the technology company’s stock valued at $58,317,000 after buying an additional 3,996 shares in the last quarter. RiverPark Advisors LLC acquired a new position in CoStar Group in the first quarter valued at about $2,492,000. Finally, Rational Advisors LLC acquired a new position in CoStar Group in the second quarter valued at about $741,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of CSGP stock traded down $3.44 during trading hours on Friday, reaching $580.23. 2,488 shares of the company were exchanged, compared to its average volume of 214,458. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $639.41. The stock’s fifty day moving average is $614.14 and its two-hundred day moving average is $534.92. The company has a market cap of $21.19 billion, a price-to-earnings ratio of 78.40, a P/E/G ratio of 4.28 and a beta of 1.34.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.22. The business had revenue of $343.76 million during the quarter, compared to the consensus estimate of $336.71 million. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. CoStar Group’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. As a group, sell-side analysts predict that CoStar Group Inc will post 9.02 EPS for the current year.

A number of research firms have commented on CSGP. BidaskClub upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Citigroup upped their target price on shares of CoStar Group from $575.00 to $680.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. SunTrust Banks upped their target price on shares of CoStar Group to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of CoStar Group from $425.00 to $597.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. Finally, JMP Securities upped their target price on shares of CoStar Group from $525.00 to $630.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. CoStar Group currently has an average rating of “Buy” and a consensus price target of $621.60.

In related news, CFO Scott T. Wheeler sold 6,933 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $629.50, for a total transaction of $4,364,323.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance sold 24,210 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $628.64, for a total transaction of $15,219,374.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,109 shares of company stock valued at $28,803,346. 2.14% of the stock is currently owned by insiders.

About CoStar Group

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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