JPMorgan Chase & Co. Buys 1,001,177 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

JPMorgan Chase & Co. grew its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 73.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,358,331 shares of the technology company's stock after acquiring an additional 1,001,177 shares during the period. JPMorgan Chase & Co. owned 0.58% of CoStar Group worth $177,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vulcan Value Partners LLC grew its holdings in CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the last quarter. Barclays PLC lifted its position in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. Select Equity Group L.P. bought a new stake in shares of CoStar Group during the second quarter valued at approximately $60,761,000. State Street Corp increased its holdings in shares of CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock valued at $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of CoStar Group in the third quarter valued at approximately $48,768,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the business's stock in a transaction on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the firm's stock in a transaction that occurred 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 directly owns 58,798 shares of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSGP. JMP Securities reiterated a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. BMO Capital Markets decreased their price target on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reissued a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Finally, Citigroup dropped 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 note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Trading Down 0.3 %

NASDAQ:CSGP traded down $0.23 on Wednesday, reaching $71.59. The company's stock had a trading volume of 2,124,995 shares, compared to its average volume of 2,401,117. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The business's 50-day moving average price is $75.39 and its two-hundred day moving average price is $75.52. The firm has a market cap of $29.35 billion, a PE ratio of 162.71 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during 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%. CoStar Group's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Equities research analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

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.