Geneva Capital Management LLC Buys 12,534 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Geneva Capital Management LLC increased its stake in CoStar Group by 3.2% during the first quarter, acquiring an additional 12,534 shares, bringing its total ownership to approximately 403,205 shares valued at $31.9 million.
• Analysts have mixed views on CoStar Group, with ratings ranging from "sell" to "strong buy," and a current consensus rating of "Moderate Buy" along with an average target price of $93.25.
• CoStar Group reported a 15.2% year-over-year revenue increase during its last earnings report, with revenues reaching $781.3 million and earnings per share of $0.17, surpassing analyst expectations.

Geneva Capital Management LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 403,205 shares of the technology company's stock after acquiring an additional 12,534 shares during the period. Geneva Capital Management LLC owned approximately 0.10% of CoStar Group worth $31,946,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CSGP. Colonial Trust Co SC lifted its holdings in shares of CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock worth $48,000 after acquiring an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP lifted its holdings in shares of CoStar Group by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock worth $2,105,000 after acquiring an additional 146 shares during the last quarter. Aurora Investment Managers LLC. lifted its holdings in shares of CoStar Group by 0.7% in the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock worth $1,771,000 after acquiring an additional 164 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of CoStar Group by 5.0% in the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock worth $297,000 after acquiring an additional 179 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of CoStar Group by 28.3% in the first quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock worth $67,000 after acquiring an additional 186 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Down 0.8%

Shares of CSGP stock traded down $0.75 during trading hours on Friday, hitting $94.59. 1,103,787 shares of the company were exchanged, compared to its average volume of 3,183,137. The firm has a market cap of $40.07 billion, a P/E ratio of 378.37, a P/E/G ratio of 4.69 and a beta of 0.85. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The company has a 50 day simple moving average of $84.51 and a two-hundred day simple moving average of $79.63.

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

Insiders Place Their Bets

In related news, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the transaction, the chief accounting officer owned 25,771 shares in the company, valued at approximately $2,392,837.35. This represents 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 owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Finally, Robert W. Baird upped their price objective on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.25.

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.