Miles Capital Inc. purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,189 shares of the technology company’s stock, valued at approximately $246,000.
A number of other institutional investors have also recently modified their holdings of CSGP. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of CoStar Group during the first quarter valued at approximately $124,000. Penserra Capital Management LLC raised its stake in shares of CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock valued at $152,000 after buying an additional 64 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock valued at $186,000 after buying an additional 750 shares in the last quarter. Tredje AP fonden purchased a new stake in shares of CoStar Group during the first quarter valued at about $222,000. Finally, Sciencast Management LP purchased a new stake in shares of CoStar Group during the fourth quarter valued at about $231,000.
Shares of CoStar Group, Inc. (NASDAQ:CSGP) traded up 0.22% during midday trading on Tuesday, hitting $261.04. The stock had a trading volume of 226,898 shares. The company’s 50 day moving average price is $254.71 and its 200-day moving average price is $215.88. The firm has a market capitalization of $8.55 billion, a PE ratio of 93.90 and a beta of 1.53. CoStar Group, Inc. has a 1-year low of $179.21 and a 1-year high of $267.46.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, April 26th. The technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. CoStar Group had a net margin of 10.47% and a return on equity of 7.23%. The company had revenue of $227 million for the quarter, compared to analysts’ expectations of $224.69 million. During the same quarter last year, the business earned $0.95 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. Equities analysts predict that CoStar Group, Inc. will post $4.37 earnings per share for the current year.
Several brokerages recently issued reports on CSGP. B. Riley reiterated a “buy” rating and set a $275.00 price objective on shares of CoStar Group in a report on Wednesday, May 3rd. Zacks Investment Research upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Stephens restated an “overweight” rating and set a $275.00 target price (up from $260.00) on shares of CoStar Group in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $235.00 target price on shares of CoStar Group in a report on Monday, March 27th. Seven analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $264.50.
In other news, CEO Andrew C. Florance sold 21,768 shares of CoStar Group stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $244.73, for a total transaction of $5,327,282.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Francis Carchedi sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $245.04, for a total transaction of $1,347,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,806 shares of company stock worth $23,171,490. 2.98% of the stock is owned by company insiders.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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