Westwind Capital Makes New $12.63 Million Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Westwind Capital acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 167,454 shares of the technology company’s stock, valued at approximately $12,633,000. CoStar Group makes up about 3.1% of Westwind Capital’s investment portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UMB Bank n.a. boosted its stake in shares of CoStar Group by 3,803.5% during the third quarter. UMB Bank n.a. now owns 77,875 shares of the technology company’s stock valued at $5,875,000 after purchasing an additional 75,880 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of CoStar Group during the third quarter valued at approximately $494,000. Insight Wealth Strategies LLC bought a new position in shares of CoStar Group during the third quarter valued at approximately $3,786,000. Blue Zone Wealth Advisors LLC boosted its stake in CoStar Group by 6.9% in the third quarter. Blue Zone Wealth Advisors LLC now owns 55,304 shares of the technology company’s stock valued at $4,172,000 after acquiring an additional 3,575 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in CoStar Group in the third quarter valued at approximately $684,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Down 1.1 %

Shares of CoStar Group stock opened at $74.83 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The firm has a fifty day moving average price of $75.87 and a 200 day moving average price of $80.45. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The stock has a market cap of $30.67 billion, a PE ratio of 141.19 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America lowered their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

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.