Icon Wealth Advisors LLC Has $30.93 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Icon Wealth Advisors LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8,314.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 409,934 shares of the technology company's stock after acquiring an additional 405,062 shares during the period. CoStar Group accounts for about 1.2% of Icon Wealth Advisors LLC's holdings, making the stock its 14th largest position. Icon Wealth Advisors LLC owned about 0.10% of CoStar Group worth $30,925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Crewe Advisors LLC bought a new stake in CoStar Group in the 1st quarter valued at $31,000. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the third quarter valued at about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group in the second quarter valued at about $49,000. Quarry LP acquired a new stake in CoStar Group during the second quarter worth about $54,000. Finally, Covestor Ltd increased its stake in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company's stock valued at $68,000 after acquiring an additional 211 shares during the period. 96.60% of the stock is owned by institutional investors.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group 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 $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company's stock.

CoStar Group Price Performance

NASDAQ:CSGP traded up $2.81 during mid-day trading on Friday, reaching $79.81. 3,842,529 shares of the company were exchanged, compared to its average volume of 2,401,462. 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 stock has a market cap of $32.72 billion, a PE ratio of 174.98 and a beta of 0.82. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a fifty day moving average of $75.47 and a 200 day moving average of $77.07.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. CoStar Group's revenue was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSGP. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, JMP Securities reissued a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. 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. According to MarketBeat, CoStar Group has an average rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group Company 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.