American Assets Capital Advisers LLC Acquires New Position in CoStar Group, Inc. (NASDAQ:CSGP)

American Assets Capital Advisers LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,834 shares of the technology company's stock, valued at approximately $516,000.

A number of other hedge funds have also added to or reduced their stakes in CSGP. Vulcan Value Partners LLC increased its holdings in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock valued at $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company's stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Select Equity Group L.P. bought a new stake in CoStar Group during the second quarter worth $60,761,000. Renaissance Technologies LLC bought a new stake in CoStar Group during the second quarter worth $46,692,000. Finally, Vanguard Group Inc. grew its holdings in CoStar Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock worth $6,322,615,000 after buying an additional 541,700 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Insider Activity at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares of the company's stock, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSGP. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 17th. Needham & Company LLC cut their price objective on CoStar Group from $107.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded down $0.46 during midday trading on Tuesday, reaching $75.41. 2,535,016 shares of the company traded hands, compared to its average volume of 2,380,541. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 172.43 and a beta of 0.82. The firm's fifty day moving average price is $76.03 and its two-hundred day moving average price is $77.82.

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

CoStar Group Profile

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.