Geode Capital Management LLC Acquires 236,407 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Geode Capital Management LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,308,986 shares of the technology company's stock after buying an additional 236,407 shares during the quarter. Geode Capital Management LLC owned 2.76% of CoStar Group worth $850,656,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC raised its position in shares of CoStar Group by 7,715.2% during the third quarter. Prestige Wealth Management Group LLC now owns 5,158 shares of the technology company's stock worth $389,000 after purchasing an additional 5,092 shares during the period. Brophy Wealth Management LLC purchased a new position in CoStar Group in the 3rd quarter worth about $347,000. M&T Bank Corp raised its holdings in CoStar Group by 3.4% during the 3rd quarter. M&T Bank Corp now owns 24,330 shares of the technology company's stock worth $1,835,000 after buying an additional 790 shares during the period. Barclays PLC lifted its stake in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of CoStar Group by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 135,039 shares of the technology company's stock worth $10,187,000 after buying an additional 8,326 shares during the period. Institutional investors own 96.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered 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 research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. JMP Securities reissued a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup reduced their price target on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Up 0.9 %

NASDAQ:CSGP traded up $0.67 during trading hours on Thursday, reaching $78.25. The company's stock had a trading volume of 1,533,108 shares, compared to its average volume of 2,380,728. 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 company has a market cap of $32.08 billion, a price-to-earnings ratio of 175.25 and a beta of 0.83. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The business's 50-day moving average is $76.35 and its 200-day moving average is $76.09.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results 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 net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same period last year, the business posted $0.25 EPS. CoStar Group's revenue was up 10.9% compared to the same quarter last year. Equities research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction 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 $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of the business'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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company's stock.

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.