ASR Vermogensbeheer N.V. Makes New $537,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• ASR Vermogensbeheer N.V. made a new investment of $537,000 in CoStar Group, acquiring 6,777 shares during the first quarter, highlighting increasing institutional interest in the tech company.
• Several research firms have raised their price targets for CoStar Group, with Needham & Company increasing it from $98.00 to $105.00 and JPMorgan Chase from $87.00 to $101.00.
• CoStar Group posted a quarterly earnings report with $0.17 earnings per share, exceeding estimates and showing a 15.2% year-over-year revenue increase.

ASR Vermogensbeheer N.V. purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,777 shares of the technology company's stock, valued at approximately $537,000.

Several other large investors have also modified their holdings of CSGP. Wayfinding Financial LLC acquired a new position in CoStar Group during the 1st quarter worth about $29,000. Bayforest Capital Ltd purchased a new position in shares of CoStar Group in the 1st quarter valued at about $29,000. Cullen Frost Bankers Inc. increased its holdings in shares of CoStar Group by 137.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after acquiring an additional 235 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in CoStar Group during the 1st quarter worth approximately $33,000. Finally, Close Asset Management Ltd purchased a new position in shares of CoStar Group in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the sale, the chief accounting officer owned 25,771 shares in the company, valued at $2,392,837.35. This represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 319,539 shares in the company, valued at $29,790,620.97. The trade was 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSGP. JPMorgan Chase & Co. raised their price target on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Needham & Company LLC lifted their price objective on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Finally, BMO Capital Markets boosted their price objective on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Two 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. According to MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Down 4.4%

Shares of NASDAQ:CSGP traded down $4.04 during trading on Tuesday, hitting $88.46. The company's stock had a trading volume of 5,088,429 shares, compared to its average volume of 3,200,069. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The stock's 50-day moving average price is $85.34 and its two-hundred day moving average price is $79.98. The company has a market capitalization of $37.48 billion, a PE ratio of 353.84, a PEG ratio of 4.60 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS 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 business had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company's revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

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.