Malaga Cove Capital LLC Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Malaga Cove Capital LLC lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,068 shares of the technology company’s stock after acquiring an additional 2,376 shares during the period. CoStar Group accounts for about 1.0% of Malaga Cove Capital LLC’s holdings, making the stock its 29th biggest position. Malaga Cove Capital LLC’s holdings in CoStar Group were worth $2,278,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CSGP. Blue Trust Inc. lifted its position in CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after acquiring an additional 173 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in shares of CoStar Group in the 4th quarter worth $37,000. CVA Family Office LLC acquired a new position in shares of CoStar Group during the fourth quarter worth about $60,000. KB Financial Partners LLC raised its holdings in CoStar Group by 17.9% during the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock worth $63,000 after purchasing an additional 124 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in CoStar Group by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock valued at $107,000 after purchasing an additional 540 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Price Performance

CSGP stock traded up $1.47 during trading hours on Friday, hitting $91.23. 1,244,624 shares of the stock traded hands, compared to its average volume of 2,229,142. The stock has a 50-day simple moving average of $90.60 and a 200 day simple moving average of $85.10. The company has a market cap of $37.25 billion, a P/E ratio of 124.97, a P/E/G ratio of 10.21 and a beta of 0.84. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several research reports. Stephens reaffirmed an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research note on Wednesday, April 24th. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Bank of America upped their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Jefferies Financial Group lifted their price objective on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, BTIG Research began coverage on shares of CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.46.

Insiders Place Their Bets

In other news, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Insiders own 1.58% of the company’s stock.

About CoStar Group

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.