Cetera Investment Advisers Purchases 13,949 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Cetera Investment Advisers lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,244 shares of the technology company's stock after acquiring an additional 13,949 shares during the quarter. Cetera Investment Advisers' holdings in CoStar Group were worth $11,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of CoStar Group in the first quarter valued at approximately $29,000. Cullen Frost Bankers Inc. boosted its position in CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after purchasing an additional 235 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after buying an additional 402 shares during the period. Close Asset Management Ltd bought a new stake in shares of CoStar Group in the first quarter valued at $41,000. Finally, Colonial Trust Co SC raised its stake in shares of CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction 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 transaction, 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 is accessible through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction 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 transaction, the insider owned 319,539 shares in the company, valued at $29,790,620.97. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSGP shares. Keefe, Bruyette & Woods boosted their price objective on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Bank of America started coverage on CoStar Group in a research note on Friday, May 30th. They set a "neutral" rating and a $79.00 price objective on the stock. Needham & Company LLC upped their price objective on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and issued a $70.00 price objective (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Finally, Robert W. Baird increased their target price on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group Stock Down 0.6%

CSGP stock traded down $0.59 on Friday, reaching $94.60. 2,841,243 shares of the company traded hands, compared to its average volume of 2,836,619. The company has a market cap of $40.08 billion, a P/E ratio of 378.40, a price-to-earnings-growth ratio of 4.61 and a beta of 0.85. The firm has a fifty day simple moving average of $82.75 and a 200-day simple moving average of $79.05. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.15. 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 posted its earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. Research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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.