Erste Asset Management GmbH Invests $17.35 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Erste Asset Management GmbH acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 230,000 shares of the technology company's stock, valued at approximately $17,351,000. Erste Asset Management GmbH owned 0.06% of CoStar Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company's stock valued at $453,534,000 after acquiring an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC boosted its stake 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 purchasing an additional 1,961,917 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company's stock worth $202,509,000 after purchasing an additional 76,916 shares during the last quarter. Mackenzie Financial Corp increased its stake in CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company's stock worth $174,861,000 after buying an additional 341,046 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CoStar Group by 0.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,096,255 shares of the technology company's stock valued at $158,141,000 after buying an additional 9,999 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Stock Down 1.6 %

Shares of CoStar Group stock traded down $1.27 during trading on Monday, reaching $80.07. The company's stock had a trading volume of 1,550,847 shares, compared to its average volume of 2,389,906. The company has a 50-day simple moving average of $75.91 and a two-hundred day simple moving average of $76.44. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a market cap of $32.83 billion, a price-to-earnings ratio of 181.98 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 (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company's revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSGP. StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. BMO Capital Markets decreased their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Citigroup lowered their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.25.

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.