Healthcare of Ontario Pension Plan Trust Fund Increases Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 107.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,906 shares of the technology company’s stock after acquiring an additional 40,404 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CoStar Group were worth $5,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group in the third quarter valued at about $40,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth approximately $49,000. Quarry LP purchased a new stake in CoStar Group in the 2nd quarter valued at approximately $54,000. Rothschild Investment LLC acquired a new stake in CoStar Group during the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. increased its position in CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after buying an additional 898 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Down 0.8 %

CSGP stock opened at $81.34 on Friday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $33.35 billion, a price-to-earnings ratio of 184.86 and a beta of 0.82. The business has a fifty day simple moving average of $75.86 and a 200-day simple moving average of $76.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million during 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 firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, equities research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of analyst reports. BMO Capital Markets decreased their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.