DekaBank Deutsche Girozentrale Has $14.77 Million Stake in CoStar Group, Inc. $CSGP

DekaBank Deutsche Girozentrale grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 89.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,640 shares of the technology company’s stock after purchasing an additional 86,875 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CoStar Group were worth $14,769,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in CoStar Group by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company’s stock worth $5,421,448,000 after buying an additional 2,709,320 shares during the last quarter. Baillie Gifford & Co. increased its holdings in CoStar Group by 6.6% in the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company’s stock worth $668,400,000 after buying an additional 524,601 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in CoStar Group in the first quarter worth approximately $586,403,000. Polen Capital Management LLC increased its holdings in CoStar Group by 1.6% in the first quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company’s stock worth $523,061,000 after buying an additional 104,612 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in CoStar Group by 1.7% in the first quarter. Invesco Ltd. now owns 4,305,556 shares of the technology company’s stock worth $341,129,000 after buying an additional 70,561 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Citigroup increased their price target on CoStar Group from $91.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Needham & Company LLC increased their price target on CoStar Group from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. BMO Capital Markets increased their price target on CoStar Group from $82.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Finally, Wolfe Research started coverage on CoStar Group in a report on Wednesday, September 3rd. They set an “outperform” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

Insider Activity at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $90.33, for a total value of $2,258,250.00. Following the completion of the transaction, the insider directly owned 293,103 shares of the company’s stock, valued at approximately $26,475,993.99. This trade represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock valued at $4,777,764 over the last three months. 1.09% of the stock is owned by company insiders.

CoStar Group Stock Up 0.6%

CSGP opened at $77.66 on Friday. CoStar Group, Inc. has a 1-year low of $68.41 and a 1-year high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $32.90 billion, a price-to-earnings ratio of 310.64, a P/E/G ratio of 3.63 and a beta of 0.87. The business has a 50 day moving average of $84.48 and a 200-day moving average of $82.65.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share 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 analysts’ expectations of $772.06 million. During the same period in the prior year, the business earned $0.15 earnings per share. CoStar Group’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 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.