Assetmark Inc. Acquires 13,320 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Assetmark Inc. boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 24.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,659 shares of the technology company's stock after purchasing an additional 13,320 shares during the period. Assetmark Inc.'s holdings in CoStar Group were worth $5,180,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in CoStar Group during the first quarter valued at approximately $31,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group in the second quarter worth $49,000. Quarry LP purchased a new position in CoStar Group in the second quarter valued at about $54,000. Covestor Ltd lifted its holdings in shares of CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company's stock worth $68,000 after purchasing an additional 211 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of CoStar Group in the second quarter valued at approximately $73,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Performance

CoStar Group stock traded down $0.46 on Tuesday, hitting $75.41. The company's stock had a trading volume of 2,535,016 shares, compared to its average volume of 2,380,541. The company has a fifty day moving average price of $76.03 and a 200-day moving average price of $77.82. The firm has a market cap of $30.92 billion, a P/E ratio of 172.43 and a beta of 0.82. 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 one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly 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 business had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade 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 insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. 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 report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, July 17th. Finally, Bank of America lowered their price target on CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Company 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.