Douglas Lane & Associates LLC Purchases New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Douglas Lane & Associates LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 383,384 shares of the technology company's stock, valued at approximately $27,446,000. Douglas Lane & Associates LLC owned 0.09% of CoStar Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. State Street Corp increased its holdings in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after buying an additional 722,153 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company's stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock valued at $306,831,000 after purchasing an additional 1,961,917 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company's stock valued at $202,509,000 after purchasing an additional 76,916 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in CoStar Group by 16.9% in the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company's stock worth $174,861,000 after purchasing an additional 341,046 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction dated 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 completion of 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 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

CoStar Group Stock Performance

CSGP traded up $0.98 on Wednesday, hitting $71.34. 2,214,403 shares of the stock traded hands, compared to its average volume of 2,117,221. The business has a fifty day moving average price of $75.16 and a two-hundred day moving average price of $75.48. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $29.25 billion, a PE ratio of 162.14 and a beta of 0.85. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

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 business had revenue of $692.60 million for the quarter, compared to analysts' expectations of $695.91 million. During the same period in the previous year, the business posted $0.25 earnings per share. CoStar Group's quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stephens reaffirmed an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. JMP Securities restated a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Monday. Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.08.

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.