9,534 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Acquired by American Assets Investment Management LLC

Key Points

• American Assets Investment Management LLC acquired 9,534 shares of CoStar Group, Inc. valued at approximately $755,000 during the first quarter.
• CoStar Group's stock saw a 2.4% increase recently, with its trading price around $96.83, and a one-year high of $97.15.
• Analysts have a consensus rating of "Moderate Buy" for CoStar Group, with a price target averaging $93.25, following a positive earnings report exceeding expectations.

American Assets Investment Management LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,534 shares of the technology company's stock, valued at approximately $755,000.

Several other institutional investors and hedge funds have also made changes to their positions in CSGP. Bayforest Capital Ltd acquired a new stake in shares of CoStar Group in the first quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in shares of CoStar Group in the first quarter worth $29,000. Cullen Frost Bankers Inc. increased its stake in shares of CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after acquiring an additional 235 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of CoStar Group in the first quarter worth $33,000. Finally, Close Asset Management Ltd acquired a new stake in shares of CoStar Group in the first quarter worth $41,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Up 2.4%

NASDAQ CSGP opened at $96.83 on Tuesday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.15. The firm has a 50 day simple moving average of $83.21 and a 200-day simple moving average of $79.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The firm has a market cap of $41.02 billion, a price-to-earnings ratio of 387.32, a PEG ratio of 4.61 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Bank of America assumed coverage on shares of CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 price target on the stock. Royal Bank Of Canada increased their price target on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target on the stock in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

Insiders Place Their Bets

In other news, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares of the company's stock, valued at $29,790,620.97. The trade was a 7.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction 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 transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.09% of the company's stock.

CoStar Group Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.