Swiss National Bank Acquires 30,465 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• The Swiss National Bank increased its stake in CoStar Group by 2.6%, acquiring an additional 30,465 shares in the latest quarter, bringing its total holdings to approximately $94.1 million.
• Several analysts have expressed positive sentiment, with ratings ranging from "neutral" to "strong buy", and the average target price set at $93.25.
• CoStar Group reported a 15.2% increase in revenue year-over-year, with earnings per share exceeding analyst expectations at $0.17 for the latest quarter.

Swiss National Bank raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,188,165 shares of the technology company's stock after purchasing an additional 30,465 shares during the quarter. Swiss National Bank owned 0.28% of CoStar Group worth $94,138,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of CoStar Group in the first quarter valued at about $29,000. Bayforest Capital Ltd acquired a new position in shares of CoStar Group during the 1st quarter worth approximately $29,000. Cullen Frost Bankers Inc. raised its position in shares of CoStar Group by 137.4% during the 1st 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. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CoStar Group during the 1st quarter valued at approximately $33,000. Finally, Close Asset Management Ltd acquired a new stake in CoStar Group in the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of analyst reports. Bank of America started coverage on shares of CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. JMP Securities reissued a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a report on Monday, June 16th. Finally, Robert W. Baird boosted their price target on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Two 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 company. According to MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Stock Down 0.9%

NASDAQ:CSGP opened at $94.50 on Friday. 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, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The company has a market cap of $40.03 billion, a PE ratio of 378.00, a PEG ratio of 4.60 and a beta of 0.85. The stock has a 50-day simple moving average of $84.95 and a 200 day simple moving average of $79.81.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating 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 company had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. During the same period last year, the company earned $0.15 earnings per share. The firm's revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of CoStar Group 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 directly owned 319,539 shares of the company's stock, valued at $29,790,620.97. The trade was a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. This trade 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 currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.