S Bank Fund Management Ltd Takes $3.63 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• S Bank Fund Management Ltd has acquired a new position in CoStar Group, purchasing 45,815 shares valued at approximately $3.63 million.
• CoStar Group's analysts provide a consensus rating of "Moderate Buy" with an average target price of $93.25, indicating optimism around the company's stock.
• Insider transactions reported significant stock sales, including CAO Cynthia Cammett Cann and insider Frederick G. Saint who sold shares for totals of $188,764.05 and $2.33 million, respectively.

S Bank Fund Management Ltd purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 45,815 shares of the technology company's stock, valued at approximately $3,630,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in CoStar Group during the first quarter valued at approximately $29,000. Bayforest Capital Ltd purchased a new position in CoStar Group during the first quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new position in CoStar Group during the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT purchased a new position in CoStar Group during the first quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. increased its holdings in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after buying an additional 235 shares during the period. Institutional investors own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the sale, the insider directly owned 319,539 shares of the company's stock, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Robert W. Baird lifted their price target on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Needham & Company LLC lifted their price target on shares of CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, BMO Capital Markets boosted their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Two 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Performance

NASDAQ CSGP traded up $1.69 on Friday, reaching $89.66. 2,534,265 shares of the company's stock traded hands, compared to its average volume of 3,387,803. The stock has a 50 day moving average price of $86.22 and a 200-day moving average price of $80.30. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 358.64, a P/E/G ratio of 4.37 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.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data 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. The business 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 revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal 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.