CoStar Group, Inc. $CSGP Shares Acquired by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in CoStar Group by 61.7% during the first quarter, acquiring an additional 7,585 shares, bringing their total to 19,884 shares valued at approximately $1.575 million.
• Recent analyst ratings show a generally positive outlook for CoStar Group, with a consensus rating of "Moderate Buy" and an average target price of $93.25.
• CoStar Group reported earnings of $0.17 EPS for the last quarter, exceeding expectations, with a revenue of $781.3 million marking a 15.2% year-over-year increase.

E Fund Management Co. Ltd. raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 61.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,884 shares of the technology company's stock after purchasing an additional 7,585 shares during the period. E Fund Management Co. Ltd.'s holdings in CoStar Group were worth $1,575,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new position in CoStar Group during the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new position in CoStar Group during the first quarter valued at $29,000. GKV Capital Management Co. Inc. purchased a new position in CoStar Group during the first quarter valued at $31,000. Zions Bancorporation National Association UT purchased a new position in CoStar Group during the first quarter valued at $31,000. Finally, Cullen Frost Bankers Inc. lifted its position in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after purchasing an additional 235 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Down 1.7%

Shares of CoStar Group stock traded down $1.50 during trading on Monday, hitting $88.16. 2,725,642 shares of the stock were exchanged, compared to its average volume of 3,205,144. The stock has a market cap of $37.35 billion, a price-to-earnings ratio of 352.64, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The firm's 50-day moving average price is $86.22 and its 200 day moving average price is $80.32. 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.

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

Analyst Ratings Changes

Several equities analysts have weighed in on CSGP shares. JMP Securities restated a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Needham & Company LLC boosted their target price on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company restated an "underweight" rating and set a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Robert W. Baird boosted their target price on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and an average price target of $93.25.

Insider Transactions at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the company's 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 transaction, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, 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 disclosure for this sale can be found here. 1.09% of the stock is currently owned by corporate 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.