Invesco Ltd. Has $341.13 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Invesco Ltd. has increased its holdings in CoStar Group, Inc. by 1.7%, now owning over 4.3 million shares valued at approximately $341 million.
• Several institutional investors have recently made new acquisitions in CoStar Group, contributing to a total institutional ownership of 96.60%.
• Analysts have set new price targets for CoStar Group, with ratings and price objectives ranging from $100 to $105, indicating a positive outlook for the stock.

Invesco Ltd. lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,305,556 shares of the technology company's stock after purchasing an additional 70,561 shares during the period. Invesco Ltd. owned about 1.02% of CoStar Group worth $341,129,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Colonial Trust Co SC grew its stake in shares of CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock worth $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP grew its stake in shares of CoStar Group by 0.5% in 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 last quarter. Aurora Investment Managers LLC. grew its stake 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. grew its stake 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 grew its stake 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 Up 1.9%

NASDAQ CSGP traded up $1.69 during trading on Friday, reaching $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 company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $37.98 billion, a PE ratio of 358.64, a PEG ratio of 4.28 and a beta of 0.85. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43. The business has a 50-day moving average price of $86.22 and a 200-day moving average price of $80.26.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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 business had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. During the same quarter last year, the firm earned $0.15 EPS. CoStar Group's revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In related news, 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 completion of the sale, the insider owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction on Monday, July 28th. The shares were 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 directly owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSGP. BMO Capital Markets lifted their target price on shares of CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on shares of CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 target price (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Robert W. Baird lifted their target price on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 target price on the stock in a research report on Monday, June 16th. Two 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.25.

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.