Cooper Financial Group Takes $257,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Cooper Financial Group acquired a new position in CoStar Group, purchasing 3,239 shares valued at approximately $257,000 during Q1.
• CoStar Group reported a 15.2% year-over-year revenue growth of $781.30 million and earnings per share of $0.17, surpassing analyst expectations.
• Analysts have a consensus price target of $93.25 for CoStar Group, with ratings ranging from underweight to strong buy.

Cooper Financial Group bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,239 shares of the technology company's stock, valued at approximately $257,000.

Other large investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its stake in 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 acquiring an additional 145 shares in the last quarter. DoubleLine ETF Adviser LP increased its holdings 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 purchasing an additional 146 shares during the period. Aurora Investment Managers LLC. increased its holdings 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 purchasing an additional 164 shares during the period. First Horizon Advisors Inc. increased its holdings 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 valued at $297,000 after acquiring an additional 179 shares during the last quarter. Finally, CVA Family Office LLC grew 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 buying an additional 186 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded up $1.69 during midday trading on Friday, hitting $89.66. The company's stock had a trading volume of 2,534,265 shares, compared to its average volume of 3,387,803. The stock has a fifty day moving average price of $86.22 and a 200 day moving average price of $80.26. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $37.98 billion, a price-to-earnings ratio of 358.64, a P/E/G ratio of 4.28 and a beta of 0.85.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Citigroup raised their price target on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. 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 raised their price target on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Bank of America assumed coverage on CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling

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

About CoStar Group

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.