Legal & General Group Plc Boosts Holdings in CoStar Group Inc (NASDAQ:CSGP)

Legal & General Group Plc lifted its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 155,551 shares of the technology company’s stock after purchasing an additional 11,749 shares during the period. Legal & General Group Plc owned 0.43% of CoStar Group worth $52,474,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. boosted its stake in shares of CoStar Group by 15.5% during the 4th quarter. Cornerstone Advisors Inc. now owns 238 shares of the technology company’s stock worth $80,000 after acquiring an additional 32 shares during the period. Advisors Asset Management Inc. lifted its holdings in CoStar Group by 1.3% during the 4th quarter. Advisors Asset Management Inc. now owns 2,506 shares of the technology company’s stock worth $845,000 after purchasing an additional 33 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in CoStar Group by 8.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 437 shares of the technology company’s stock worth $147,000 after purchasing an additional 34 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in CoStar Group by 6.8% during the 4th quarter. Suntrust Banks Inc. now owns 742 shares of the technology company’s stock worth $251,000 after purchasing an additional 47 shares during the last quarter. Finally, ETF Managers Group LLC lifted its holdings in CoStar Group by 17.7% during the 4th quarter. ETF Managers Group LLC now owns 365 shares of the technology company’s stock worth $123,000 after purchasing an additional 55 shares during the last quarter. 96.91% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Andrew C. Florance sold 55,322 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $473.38, for a total value of $26,188,328.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew Linnington sold 4,701 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $477.31, for a total value of $2,243,834.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,419 shares of company stock valued at $31,001,252. Company insiders own 2.47% of the company’s stock.

Several brokerages have weighed in on CSGP. B. Riley lifted their price objective on CoStar Group from $460.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Bank of America reissued a “buy” rating and set a $460.00 price target (up previously from $429.00) on shares of CoStar Group in a report on Wednesday, February 27th. SunTrust Banks boosted their price target on CoStar Group to $460.00 and gave the stock a “positive” rating in a report on Wednesday, February 27th. Wells Fargo & Co boosted their price target on CoStar Group from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Finally, ValuEngine upgraded CoStar Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. CoStar Group has a consensus rating of “Buy” and an average target price of $457.22.

Shares of CoStar Group stock traded up $1.12 on Friday, hitting $481.72. 200,950 shares of the company’s stock traded hands, compared to its average volume of 182,434. CoStar Group Inc has a one year low of $315.85 and a one year high of $491.97. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 3.19 and a beta of 1.46.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 26th. The technology company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.27. CoStar Group had a return on equity of 9.30% and a net margin of 20.00%. The business had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.19 million. During the same period in the prior year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, analysts predict that CoStar Group Inc will post 9.03 earnings per share for the current fiscal year.

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CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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