Citigroup Inc. Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Citigroup Inc. grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 729,730 shares of the technology company’s stock after purchasing an additional 37,113 shares during the quarter. Citigroup Inc.’s holdings in CoStar Group were worth $55,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of CoStar Group by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after purchasing an additional 76,916 shares during the last quarter. Moran Wealth Management LLC increased its holdings in CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after acquiring an additional 161 shares in the last quarter. EagleClaw Capital Managment LLC increased its holdings in CoStar Group by 10.6% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 15,600 shares of the technology company’s stock worth $1,177,000 after acquiring an additional 1,500 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in CoStar Group in the 3rd quarter worth approximately $554,000. Finally, First Horizon Advisors Inc. increased its holdings in CoStar Group by 11.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,449 shares of the technology company’s stock worth $336,000 after acquiring an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Tuesday, November 19th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, Citigroup dropped their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $79.81 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock’s fifty day moving average is $75.49 and its 200 day moving average is $76.88. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market capitalization of $32.72 billion, a PE ratio of 181.39 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results 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 analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael R. Klein sold 71,633 shares of CoStar Group 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 completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group 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.