CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by ING Groep NV

Key Points

• ING Groep NV has increased its stake in CoStar Group, Inc. by 193.0%, owning a total of 182,752 shares worth approximately $14.48 million as of the latest SEC filing.
• CoStar Group recently reported a quarterly earnings per share of $0.17, exceeding the consensus estimate of $0.14, with revenues of $781.3 million, marking a 15.2% year-over-year increase.
• Institutional investors currently hold 96.60% of CoStar Group's stock, reflecting strong institutional interest in the company.

ING Groep NV lifted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 193.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 182,752 shares of the technology company's stock after purchasing an additional 120,376 shares during the quarter. ING Groep NV's holdings in CoStar Group were worth $14,479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its position in CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. grew its position in CoStar Group by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock worth $459,314,000 after acquiring an additional 1,267,263 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in CoStar Group by 2,181.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock valued at $80,847,000 after purchasing an additional 1,079,815 shares during the last quarter. ShawSpring Partners LLC purchased a new stake in shares of CoStar Group during the fourth quarter valued at approximately $65,133,000. Finally, Kensico Capital Management Corp purchased a new position in shares of CoStar Group in the fourth quarter worth $51,244,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price objective on the stock in a research report on Monday, June 16th. Royal Bank Of Canada increased their target price on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Bank of America began coverage on CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Finally, Wells Fargo & Company reaffirmed 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.25.

Insider Buying and Selling

In related news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider owned 319,539 shares of the company's stock, valued at $29,790,620.97. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, 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. Company insiders own 1.09% of the company's stock.

CoStar Group Price Performance

CSGP traded down $0.95 on Thursday, hitting $95.34. 2,185,602 shares of the company's stock traded hands, compared to its average volume of 3,018,759. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43. 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 firm has a market cap of $40.39 billion, a price-to-earnings ratio of 381.36, a P/E/G ratio of 4.69 and a beta of 0.85. The company's 50 day simple moving average is $84.09 and its 200-day simple moving average is $79.49.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, topping 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 analyst estimates of $772.06 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. CoStar Group's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

About CoStar Group

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.