Grove Bank & Trust Takes $987,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Grove Bank & Trust bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,791 shares of the technology company's stock, valued at approximately $987,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC raised its position in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares during the period. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the 3rd quarter valued at approximately $40,000. Quarry LP bought a new stake in CoStar Group during the 2nd quarter valued at $54,000. Brooklyn Investment Group purchased a new stake in shares of CoStar Group during the third quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group in the second quarter worth $104,000. 96.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CSGP. Stephens restated an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a research note on Thursday, January 2nd. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a report on Monday, January 6th. BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada restated a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a research report on Friday, January 10th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.92.

CoStar Group Stock Performance

Shares of CSGP stock opened at $73.85 on Monday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a market cap of $30.28 billion, a PE ratio of 167.84 and a beta of 0.85. The company's fifty day moving average price is $74.67 and its 200-day moving average price is $75.35. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business's revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at CoStar Group

In related news, CEO Andrew C. Florance bought 14,731 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

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.