TimesSquare Capital Management LLC Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

TimesSquare Capital Management LLC boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 734,366 shares of the technology company's stock after acquiring an additional 44,405 shares during the period. TimesSquare Capital Management LLC owned 0.18% of CoStar Group worth $55,401,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Kampmann Melissa S. increased its holdings in shares of CoStar Group by 1.5% during the third quarter. Kampmann Melissa S. now owns 23,415 shares of the technology company's stock valued at $1,766,000 after acquiring an additional 350 shares in the last quarter. Assetmark Inc. raised its holdings in CoStar Group by 24.1% in the third quarter. Assetmark Inc. now owns 68,659 shares of the technology company's stock worth $5,180,000 after buying an additional 13,320 shares during the last quarter. Fiera Capital Corp lifted its stake in shares of CoStar Group by 9.9% in the third quarter. Fiera Capital Corp now owns 88,967 shares of the technology company's stock worth $6,712,000 after buying an additional 8,004 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in shares of CoStar Group by 11.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 318,616 shares of the technology company's stock worth $24,036,000 after buying an additional 32,290 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of CoStar Group by 22.6% during the third quarter. QRG Capital Management Inc. now owns 22,945 shares of the technology company's stock valued at $1,731,000 after buying an additional 4,235 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Michael R. Klein sold 71,633 shares of the company'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 transaction, the director now owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Needham & Company LLC decreased their price objective on shares of CoStar Group from $107.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Robert W. Baird lowered their price target on CoStar Group from $105.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, July 24th. Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a "buy" rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup dropped their price target on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Performance

Shares of CSGP stock traded up $1.09 during trading hours on Friday, reaching $77.39. 2,277,981 shares of the company traded hands, compared to its average volume of 3,708,157. The firm has a 50-day moving average price of $76.06 and a 200 day moving average price of $78.02. The company has a market cap of $31.73 billion, a P/E ratio of 175.89 and a beta of 0.82. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $695.91 million. During the same period last year, the firm posted $0.25 EPS. The company's revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.52 earnings per share 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.