CoStar Group, Inc. (NASDAQ:CSGP) Holdings Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,485 shares of the technology company's stock after buying an additional 14,686 shares during the quarter. Public Sector Pension Investment Board's holdings in CoStar Group were worth $5,393,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CoStar Group by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,562 shares of the technology company's stock valued at $13,395,000 after purchasing an additional 13,873 shares in the last quarter. FORA Capital LLC bought a new position in CoStar Group in the 3rd quarter worth $1,239,000. BNP Paribas bought a new position in shares of CoStar Group in the third quarter worth about $2,475,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of CoStar Group by 107.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 77,906 shares of the technology company's stock valued at $5,877,000 after acquiring an additional 40,404 shares during the period. Finally, Bridgewater Associates LP increased its holdings in CoStar Group by 23.7% in the 3rd quarter. Bridgewater Associates LP now owns 423,073 shares of the technology company's stock worth $31,917,000 after acquiring an additional 81,054 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSGP shares. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets reduced 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. JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Finally, Citigroup dropped their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.25.

Insider Activity at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This trade 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 Stock Down 1.6 %

CoStar Group stock traded down $1.27 during mid-day trading on Monday, reaching $80.07. 1,550,847 shares of the company's stock were exchanged, compared to its average volume of 2,389,906. The company has a fifty day moving average of $75.91 and a 200-day moving average of $76.44. The company has a market cap of $32.83 billion, a P/E ratio of 181.98 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, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) 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 company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm's quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current 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.