Nuveen LLC Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Nuveen LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,044,506 shares of the technology company’s stock, valued at approximately $82,756,000. Nuveen LLC owned 0.25% of CoStar Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of CoStar Group in the first quarter valued at about $29,000. Bayforest Capital Ltd bought a new stake in CoStar Group during the first quarter worth about $29,000. Zions Bancorporation National Association UT bought a new stake in CoStar Group during the first quarter worth about $31,000. Cullen Frost Bankers Inc. lifted its position in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company’s stock worth $32,000 after purchasing an additional 235 shares during the period. Finally, Pin Oak Investment Advisors Inc. bought a new stake in CoStar Group during the first quarter worth about $33,000. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of CoStar Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Stephens raised shares of CoStar Group to a “strong-buy” rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

CoStar Group stock opened at $87.56 on Thursday. The business has a 50 day moving average of $85.80 and a 200-day moving average of $80.09. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The company has a market capitalization of $37.09 billion, a P/E ratio of 350.24, a P/E/G ratio of 4.31 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The company had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the sale, the chief accounting officer owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the sale, the insider directly owned 319,539 shares of the company’s stock, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.09% 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.