Charles Schwab Investment Management Inc. Has $240.17 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Charles Schwab Investment Management Inc. increased its position in CoStar Group by 7.6%, owning 3,031,331 shares worth $240.17 million after purchasing an additional 213,082 shares.
• The technology company reported a net margin of 3.57% and a revenue increase of 15.2% year-over-year, reaching $781.3 million for the last quarter.
• Analysts have differing views on CoStar Group, with price targets ranging from $70.00 to $105.00, and an overall average rating of "Moderate Buy."

Charles Schwab Investment Management Inc. raised its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,031,331 shares of the technology company's stock after acquiring an additional 213,082 shares during the period. Charles Schwab Investment Management Inc. owned about 0.72% of CoStar Group worth $240,172,000 as of its most recent SEC filing.

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

CoStar Group Stock Down 4.4%

Shares of CSGP traded down $4.04 during midday trading on Tuesday, hitting $88.46. The stock had a trading volume of 5,088,429 shares, compared to its average volume of 3,200,069. The company has a 50 day simple moving average of $85.34 and a two-hundred day simple moving average of $79.98. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The firm has a market cap of $37.48 billion, a price-to-earnings ratio of 353.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CSGP shares. Citigroup raised their price target on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price target on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and set a $70.00 target price (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods lifted their target price on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of the business'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 completion of the sale, the chief accounting officer 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the business's 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 sale, the insider owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is owned by insiders.

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.