Harvest Fund Management Co. Ltd Boosts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Harvest Fund Management Co. Ltd boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 52.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,878 shares of the technology company's stock after acquiring an additional 6,517 shares during the period. Harvest Fund Management Co. Ltd's holdings in CoStar Group were worth $1,424,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the 3rd quarter valued at about $40,000. Swedbank AB purchased a new stake in CoStar Group in the 1st quarter valued at approximately $4,223,000. Gateway Investment Advisers LLC boosted its holdings in CoStar Group by 31.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company's stock valued at $3,005,000 after purchasing an additional 9,618 shares in the last quarter. First Hawaiian Bank boosted its holdings in CoStar Group by 111.9% in the 2nd quarter. First Hawaiian Bank now owns 16,726 shares of the technology company's stock valued at $1,240,000 after purchasing an additional 8,833 shares in the last quarter. Finally, Telemark Asset Management LLC boosted its holdings in CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock valued at $37,720,000 after purchasing an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Down 0.4 %

Shares of CSGP stock traded down $0.36 on Tuesday, reaching $79.92. 1,913,801 shares of the stock were exchanged, compared to its average volume of 2,402,137. The stock has a market cap of $32.76 billion, a P/E ratio of 181.64 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. The firm has a 50 day moving average of $75.62 and a two-hundred day moving average of $76.64. 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 released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. On average, research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Citigroup decreased their price target on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lowered CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One investment 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. Based on data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

Insider Buying and Selling

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was purchased 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 in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction on 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 sale, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

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.