Natixis Advisors LLC Boosts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Natixis Advisors LLC increased its stake in CoStar Group by 10.3% during the first quarter, holding approximately $47.11 million in shares as of its latest SEC filing.
• In a recent analysis, Stephens upgraded CoStar Group to a "strong-buy" rating with a target price of $105.00, reflecting positive market sentiment among analysts.
• CoStar Group reported a 15.2% year-over-year increase in revenue for the last quarter, with a net revenue of $781.30 million, and an EPS of $0.17, surpassing expectations.

Natixis Advisors LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,602 shares of the technology company's stock after purchasing an additional 55,589 shares during the quarter. Natixis Advisors LLC owned 0.14% of CoStar Group worth $47,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Colonial Trust Co SC boosted its stake in 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 buying an additional 145 shares in the last quarter. DoubleLine ETF Adviser LP boosted its stake in shares of CoStar Group by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock valued at $2,105,000 after purchasing an additional 146 shares during the period. Aurora Investment Managers LLC. boosted its stake in shares of CoStar Group by 0.7% during the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock valued at $1,771,000 after purchasing an additional 164 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of CoStar Group by 5.0% during the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock valued at $297,000 after purchasing an additional 179 shares during the period. Finally, CVA Family Office LLC lifted its stake in 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 period. Institutional investors own 96.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSGP. 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. Needham & Company LLC increased 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. JMP Securities reiterated a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. Robert W. Baird increased their price objective on CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Performance

Shares of CSGP stock traded up $0.05 during trading hours on Tuesday, reaching $96.88. 769,805 shares of the company traded hands, compared to its average volume of 3,192,153. The firm has a 50-day moving average price of $83.21 and a 200 day moving average price of $79.25. The company has a market cap of $41.04 billion, a P/E ratio of 387.47, a P/E/G ratio of 4.61 and a beta of 0.85. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.43. 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 issued its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction that occurred 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 sale, the chief accounting officer 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction that occurred 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 completion of the sale, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.09% of the company's stock.

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.