Forsta AP Fonden Acquires 6,800 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Forsta AP Fonden boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 9.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,000 shares of the technology company's stock after purchasing an additional 6,800 shares during the quarter. Forsta AP Fonden's holdings in CoStar Group were worth $6,186,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock valued at $6,322,615,000 after buying an additional 541,700 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of CoStar Group by 17.7% during 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 acquiring an additional 1,773,564 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company's stock valued at $453,534,000 after buying an additional 124,761 shares during the period. Blair William & Co. IL grew its stake in shares of CoStar Group by 0.6% during the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company's stock valued at $426,951,000 after acquiring an additional 26,800 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its stake in shares of CoStar Group by 90.1% in the second 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.

Analysts Set New Price Targets

Several research firms have weighed in on CSGP. Needham & Company LLC lowered their price objective on CoStar Group from $107.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada cut CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday. JPMorgan Chase & Co. dropped 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. Finally, JMP Securities restated a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.25.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the firm's stock in a transaction 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 completion of the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group 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 owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company's stock.

CoStar Group Stock Down 1.4 %

NASDAQ:CSGP traded down $1.07 on Tuesday, hitting $73.24. 2,984,636 shares of the company's stock were exchanged, compared to its average volume of 2,371,118. 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 $30.03 billion, a P/E ratio of 168.89 and a beta of 0.81. The firm has a 50-day moving average price of $76.44 and a 200-day moving average price of $78.69. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group'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. As a group, analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

About CoStar Group

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.