13,791 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Acquired by Grove Bank & Trust

Grove Bank & Trust bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,791 shares of the technology company’s stock, valued at approximately $987,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSGP. Ashton Thomas Securities LLC bought a new position in CoStar Group in the 3rd quarter valued at $40,000. JPMorgan Chase & Co. grew its position in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC increased its stake in CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares during the last quarter. Swedbank AB increased its stake in CoStar Group by 469.3% in the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after acquiring an additional 204,474 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after acquiring an additional 14,468 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Friday, January 10th. JPMorgan Chase & Co. dropped 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.92.

CoStar Group Stock Up 0.6 %

Shares of NASDAQ CSGP opened at $73.85 on Monday. The company has a market cap of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85. 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 firm’s fifty day moving average is $74.67 and its 200 day moving average is $75.34. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. 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 earnings per share for the current year.

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.