Daiwa Securities Group Inc. Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Daiwa Securities Group Inc. boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,579 shares of the technology company’s stock after buying an additional 8,258 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CoStar Group were worth $6,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CSGP. Picton Mahoney Asset Management raised its stake in shares of CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after purchasing an additional 138 shares during the period. Moran Wealth Management LLC increased its holdings in CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after purchasing an additional 161 shares during the period. S.E.E.D. Planning Group LLC raised its position in CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in CoStar Group by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was bought 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. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the business’s 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 owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $79.92 on Wednesday. The company has a 50 day simple moving average of $75.62 and a two-hundred day simple moving average of $76.64. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a market capitalization of $32.76 billion, a price-to-earnings ratio of 181.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.