192,674 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Cortland Associates Inc. MO

Cortland Associates Inc. MO acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 192,674 shares of the technology company's stock, valued at approximately $14,535,000. CoStar Group makes up 1.8% of Cortland Associates Inc. MO's holdings, making the stock its 18th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in CoStar Group during the 1st quarter valued at $31,000. RiverPark Advisors LLC bought a new position in shares of CoStar Group during the first quarter worth about $37,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the second quarter worth about $49,000. Quarry LP acquired a new stake in CoStar Group during the second quarter valued at approximately $54,000. Finally, Covestor Ltd lifted its holdings in CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company's stock worth $68,000 after buying an additional 211 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

NASDAQ:CSGP traded up $1.33 during trading hours on Monday, reaching $73.83. 2,681,372 shares of the company's stock were exchanged, compared to its average volume of 2,370,717. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The business's 50-day simple moving average is $76.22 and its two-hundred day simple moving average is $78.29. The company has a market capitalization of $30.27 billion, a P/E ratio of 164.77 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.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of research analyst reports. Robert W. Baird lowered 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. Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $109.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, July 17th. 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 stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of CoStar Group from $108.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup decreased their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $93.25.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now directly 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 SEC, which can be accessed through the SEC website. In other news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.

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.