Benjamin F. Edwards & Company Inc. Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Benjamin F. Edwards & Company Inc. lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1,393.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,189 shares of the technology company’s stock after purchasing an additional 11,373 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in CoStar Group were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Accretive Wealth Partners LLC grew its stake in CoStar Group by 2.1% during the fourth quarter. Accretive Wealth Partners LLC now owns 9,398 shares of the technology company’s stock valued at $821,000 after acquiring an additional 192 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in CoStar Group by 5.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 8,159 shares of the technology company’s stock valued at $713,000 after acquiring an additional 410 shares in the last quarter. Natixis Advisors L.P. grew its stake in CoStar Group by 10.9% during the fourth quarter. Natixis Advisors L.P. now owns 459,416 shares of the technology company’s stock valued at $40,148,000 after acquiring an additional 45,228 shares in the last quarter. LGT Group Foundation lifted its position in CoStar Group by 45.2% during the fourth quarter. LGT Group Foundation now owns 59,237 shares of the technology company’s stock valued at $5,213,000 after purchasing an additional 18,442 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in CoStar Group by 13.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 7,368 shares of the technology company’s stock valued at $644,000 after purchasing an additional 861 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of CSGP opened at $91.30 on Tuesday. The company has a 50 day moving average of $90.75 and a two-hundred day moving average of $85.31. The company has a market cap of $37.28 billion, a price-to-earnings ratio of 125.07, a price-to-earnings-growth ratio of 10.21 and a beta of 0.84. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38.

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

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now 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. 1.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Robert W. Baird increased their price objective on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Citigroup raised their target price on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a report on Friday, April 12th. Finally, The Goldman Sachs Group raised their target price on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

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.