American Assets Investment Management LLC Invests $755,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• American Assets Investment Management LLC has acquired 9,534 shares of CoStar Group, valued at approximately $755,000, as part of its recent investments in the company.
• Other institutional investors have significantly increased their stakes, with Canada Pension Plan Investment Board raising its position by 2,181.8% during the last quarter.
• CoStar Group reported a quarterly revenue increase of 15.2% year-over-year, alongside earnings per share of $0.17, beating analysts' expectations.

American Assets Investment Management LLC purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,534 shares of the technology company's stock, valued at approximately $755,000.

Several other institutional investors have also recently added to or reduced their stakes in CSGP. Colonial Trust Co SC grew its position in shares of CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock worth $48,000 after buying an additional 145 shares during the period. DoubleLine ETF Adviser LP boosted its stake in CoStar Group by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock worth $2,105,000 after acquiring an additional 146 shares during the last quarter. Aurora Investment Managers LLC. boosted its stake in CoStar Group by 0.7% during the 1st quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock worth $1,771,000 after acquiring an additional 164 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in CoStar Group by 5.0% during the 1st quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock worth $297,000 after acquiring an additional 179 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in CoStar Group by 28.3% during the 1st quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock worth $67,000 after acquiring an additional 186 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Bank of America started coverage on shares of CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird boosted 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Trading Up 1.9%

Shares of CoStar Group stock traded up $1.78 during midday trading on Monday, reaching $96.38. 791,351 shares of the company's stock traded hands, compared to its average volume of 3,199,001. 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 company has a market cap of $40.83 billion, a PE ratio of 385.28, a price-to-earnings-growth ratio of 4.61 and a beta of 0.85. The stock has a 50 day moving average of $82.75 and a 200-day moving average of $79.09. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.15.

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 for the quarter, topping 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 for the quarter, compared to analysts' expectations of $772.06 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Insider Activity at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction that occurred 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 owned 25,771 shares in the company, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the transaction, the insider owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. This trade represents a 7.26% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by company insiders.

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.