Gateway Investment Advisers LLC Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Gateway Investment Advisers LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 41.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,077 shares of the technology company's stock after purchasing an additional 12,692 shares during the period. Gateway Investment Advisers LLC's holdings in CoStar Group were worth $3,084,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. S.E.E.D. Planning Group LLC increased its stake in CoStar Group by 7.1% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 48,345 shares of the technology company's stock valued at $3,461,000 after buying an additional 3,184 shares during the period. Park Avenue Securities LLC increased its stake in shares of CoStar Group by 1.9% during the fourth quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company's stock worth $2,081,000 after acquiring an additional 542 shares during the period. Assenagon Asset Management S.A. raised its holdings in CoStar Group by 39.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,366 shares of the technology company's stock worth $28,734,000 after purchasing an additional 113,925 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in CoStar Group by 40.1% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,480 shares of the technology company's stock valued at $464,000 after purchasing an additional 1,854 shares during the period. Finally, Czech National Bank boosted its holdings in CoStar Group by 6.5% in the 4th quarter. Czech National Bank now owns 88,888 shares of the technology company's stock valued at $6,363,000 after purchasing an additional 5,404 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

NASDAQ:CSGP traded up $0.43 during trading hours on Friday, reaching $73.85. 2,189,276 shares of the company traded hands, compared to its average volume of 2,214,693. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm's 50-day moving average is $74.67 and its 200-day moving average is $75.33. The stock has a market cap of $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 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 analyst estimates of $695.91 million. During the same quarter last year, the company earned $0.25 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the 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 transaction, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following 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 trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. BMO Capital Markets reduced their price target 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. William Blair reissued an "outperform" rating on shares of CoStar Group in a report on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup decreased their price objective on shares of CoStar Group from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $92.92.

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.