Sumitomo Mitsui Trust Group Inc. Acquires 23,825 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sumitomo Mitsui Trust Group Inc. boosted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 974,084 shares of the technology company's stock after purchasing an additional 23,825 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of CoStar Group worth $73,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of CoStar Group in the third quarter worth $230,000. Apollon Wealth Management LLC purchased a new stake in CoStar Group during the 3rd quarter valued at about $278,000. Vantage Investment Partners LLC increased its stake in CoStar Group by 24.7% during the 3rd quarter. Vantage Investment Partners LLC now owns 505,016 shares of the technology company's stock valued at $38,098,000 after purchasing an additional 100,127 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter worth about $40,000. Finally, Los Angeles Capital Management LLC purchased a new position in CoStar Group in the third quarter worth about $4,363,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSGP. Citigroup reduced 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 report on Thursday, October 24th. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. JMP Securities reaffirmed a "market outperform" rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, CoStar Group has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated 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 completion of the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company's stock.

CoStar Group Stock Performance

CoStar Group stock traded down $3.79 during midday trading on Friday, hitting $71.25. The stock had a trading volume of 3,569,615 shares, compared to its average volume of 2,384,428. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market capitalization of $29.21 billion, a PE ratio of 166.55 and a beta of 0.82. The firm's fifty day moving average is $75.95 and its two-hundred day moving average is $77.66. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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 firm 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%. The company's revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. On average, research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.