Empowered Funds LLC grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 329.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 40,987 shares of the technology company’s stock after acquiring an additional 31,446 shares during the period. Empowered Funds LLC’s holdings in CoStar Group were worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in shares of CoStar Group by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 4,789 shares of the technology company’s stock valued at $379,000 after purchasing an additional 426 shares during the period. NewEdge Advisors LLC grew its stake in CoStar Group by 727.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,473 shares of the technology company’s stock valued at $117,000 after buying an additional 1,295 shares during the last quarter. Jones Financial Companies Lllp grew its stake in CoStar Group by 860.7% in the 1st quarter. Jones Financial Companies Lllp now owns 12,691 shares of the technology company’s stock valued at $1,006,000 after buying an additional 11,370 shares during the last quarter. Woodline Partners LP raised its holdings in CoStar Group by 44.6% in the 1st quarter. Woodline Partners LP now owns 35,604 shares of the technology company’s stock valued at $2,821,000 after acquiring an additional 10,984 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in CoStar Group by 144.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 865 shares of the technology company’s stock valued at $69,000 after acquiring an additional 511 shares during the period. 96.60% of the stock is currently owned by institutional investors.
CoStar Group Trading Up 2.2%
Shares of CSGP stock opened at $30.24 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.13. The stock has a market cap of $12.25 billion, a P/E ratio of 159.17, a price-to-earnings-growth ratio of 0.78 and a beta of 0.72. The stock has a 50 day simple moving average of $30.28 and a 200 day simple moving average of $38.99. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $96.27.
Insider Transactions at CoStar Group
In other news, CEO Andrew C. Florance bought 83,300 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the acquisition, the chief executive officer directly owned 1,806,165 shares in the company, valued at $53,986,271.85. This represents a 4.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
CSGP has been the subject of a number of research analyst reports. Robert W. Baird set a $34.00 price objective on CoStar Group and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Wells Fargo & Company set a $26.00 price target on CoStar Group and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Citizens Jmp reduced their price target on CoStar Group from $44.00 to $35.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 29th. Needham & Company LLC decreased their price objective on CoStar Group from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Finally, Wolfe Research reiterated an “outperform” rating and set a $32.00 price objective (down from $35.00) on shares of CoStar Group in a research report on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.61.
View Our Latest Stock Report on CSGP
About CoStar Group
CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.
In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.
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