KP Management LLC Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

KP Management LLC lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 84.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,500 shares of the technology company's stock after buying an additional 19,000 shares during the quarter. KP Management LLC's holdings in CoStar Group were worth $3,131,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock worth $6,322,615,000 after buying an additional 541,700 shares during the period. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company's stock worth $1,140,650,000 after buying an additional 1,773,564 shares during the period. Bank of New York Mellon Corp grew its stake in CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company's stock worth $453,534,000 after purchasing an additional 124,761 shares during the period. Blair William & Co. IL raised its holdings in CoStar Group by 0.6% in the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company's stock worth $426,951,000 after acquiring an additional 26,800 shares during the last quarter. Finally, Vulcan Value Partners LLC grew its stake in shares of 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 valued at $306,831,000 after purchasing an additional 1,961,917 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Down 0.2 %

Shares of NASDAQ:CSGP traded down $0.17 during midday trading on Monday, hitting $74.31. The company had a trading volume of 5,791,258 shares, compared to its average volume of 2,368,163. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 169.28 and a beta of 0.81. The firm has a fifty day simple moving average of $76.46 and a 200 day simple moving average of $78.82.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping 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 the consensus estimate of $695.91 million. During the same period in the previous year, the company earned $0.25 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Activity

In related news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company's stock, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSGP has been the topic of several research analyst reports. 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. JPMorgan Chase & Co. reduced their price target on shares of 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 dropped their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday. Royal Bank of Canada cut shares of CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.