LGT Group Foundation Has $13.67 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• LGT Group Foundation has increased its holdings in CoStar Group, Inc. by 13.3%, owning 172,482 shares worth approximately $13.67 million by the end of the latest quarter.
• CoStar Group reported earnings of $0.17 per share for the latest quarter, exceeding analyst expectations of $0.14, and achieved a revenue of $781.30 million, up 15.2% year-over-year.
• Investment analysts have varying ratings on CoStar Group, with a consensus rating of "Moderate Buy" and a target price of $93.25 following recent upgrades from firms such as Royal Bank of Canada and Stephens.

LGT Group Foundation lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 13.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 172,482 shares of the technology company's stock after acquiring an additional 20,184 shares during the period. LGT Group Foundation's holdings in CoStar Group were worth $13,666,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in CoStar Group during the first quarter valued at approximately $29,000. Bayforest Capital Ltd purchased a new position in CoStar Group in the 1st quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new position in CoStar Group in the 1st quarter worth $31,000. Cullen Frost Bankers Inc. boosted its stake in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after acquiring an additional 235 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new position in CoStar Group during the first quarter valued at approximately $33,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several recent research reports. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective on the stock in a report on Monday, June 16th. Citigroup lifted their price target on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, JMP Securities reiterated a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Stock Up 1.9%

Shares of CoStar Group stock traded up $1.69 on Friday, reaching $89.66. 2,534,265 shares of the company were exchanged, compared to its average volume of 3,387,803. The company has a market capitalization of $37.98 billion, a price-to-earnings ratio of 358.64, a PEG ratio of 4.28 and a beta of 0.85. 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 company has a 50-day moving average of $86.22 and a 200 day moving average 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 the consensus estimate of $0.14 by $0.03. The firm had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The company's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Activity at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the firm's 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's 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 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 position. The disclosure for this sale can be found here. 1.09% of the stock is owned by company insiders.

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.