CoStar Group, Inc. $CSGP Shares Purchased by Stephens Investment Management Group LLC

Key Points

• Stephens Investment Management Group LLC increased its stake in CoStar Group, purchasing an additional 34,444 shares, bringing its total ownership to 773,281 shares valued at approximately $62.17 million.
• Various equities analysts have raised their target prices for CoStar Group, with notable upgrades from Citigroup and JPMorgan Chase, indicating a positive outlook with an average target price of $94.15.
• CoStar Group recently reported a 15.2% year-over-year revenue growth in its earnings, generating $781.3 million for the quarter and exceeding analysts' consensus estimates.

Stephens Investment Management Group LLC lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 773,281 shares of the technology company's stock after purchasing an additional 34,444 shares during the period. Stephens Investment Management Group LLC owned approximately 0.18% of CoStar Group worth $62,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Generate Investment Management Ltd acquired a new stake in shares of CoStar Group in the second quarter valued at about $6,306,000. PFG Investments LLC acquired a new stake in shares of CoStar Group in the first quarter valued at about $234,000. Red Spruce Capital LLC lifted its stake in shares of CoStar Group by 37.7% in the second quarter. Red Spruce Capital LLC now owns 21,842 shares of the technology company's stock valued at $1,756,000 after purchasing an additional 5,975 shares during the period. Golden State Wealth Management LLC increased its holdings in CoStar Group by 6.3% during the 1st quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock valued at $268,000 after acquiring an additional 200 shares in the last quarter. Finally, Strs Ohio purchased a new position in CoStar Group during the 1st quarter valued at about $5,625,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CSGP shares. Citigroup raised their target price on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Robert W. Baird raised their target price on shares of CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their target price 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. Royal Bank Of Canada restated a "sector perform" rating and set a $91.00 target price on shares of CoStar Group in a report on Thursday, October 9th. Finally, Wolfe Research started coverage on shares of CoStar Group in a report on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $94.15.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $76.85 on Wednesday. The company has a market cap of $32.56 billion, a PE ratio of 307.40, a price-to-earnings-growth ratio of 3.53 and a beta of 0.87. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The company has a 50-day simple moving average of $84.89 and a 200-day simple moving average of $82.68.

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. 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 the consensus estimate of $772.06 million. During the same period in the previous year, the firm earned $0.15 earnings per share. CoStar Group's revenue was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the sale, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The transaction 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 the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $90.33, for a total transaction of $2,258,250.00. Following the completion of the sale, the insider owned 293,103 shares of the company's stock, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,033 shares of company stock valued at $4,777,764. 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.

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