Summit Creek Advisors LLC Increases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Summit Creek Advisors LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGPGet Rating) by 116.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,766 shares of the technology company’s stock after buying an additional 3,100 shares during the quarter. Summit Creek Advisors LLC’s holdings in CoStar Group were worth $384,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its position in shares of CoStar Group by 27.2% during the 1st quarter. Teacher Retirement System of Texas now owns 97,595 shares of the technology company’s stock worth $6,501,000 after acquiring an additional 20,873 shares in the last quarter. Brown Advisory Inc. raised its position in shares of CoStar Group by 6.4% during the 1st quarter. Brown Advisory Inc. now owns 359,288 shares of the technology company’s stock worth $24,075,000 after acquiring an additional 21,652 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of CoStar Group by 4.6% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 299,069 shares of the technology company’s stock worth $19,921,000 after acquiring an additional 13,149 shares in the last quarter. Connectus Wealth LLC raised its position in shares of CoStar Group by 74.5% during the 1st quarter. Connectus Wealth LLC now owns 501,309 shares of the technology company’s stock worth $33,392,000 after acquiring an additional 213,987 shares in the last quarter. Finally, Camden Capital LLC raised its position in shares of CoStar Group by 22.2% during the 1st quarter. Camden Capital LLC now owns 4,912 shares of the technology company’s stock worth $327,000 after acquiring an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ:CSGP remained flat at $72.87 during trading on Friday. The stock had a trading volume of 1,072,554 shares, compared to its average volume of 1,743,341. The company has a market cap of $28.85 billion, a price-to-earnings ratio of 86.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.95 and a quick ratio of 11.95. The firm’s fifty day moving average price is $61.95 and its two-hundred day moving average price is $62.73. CoStar Group, Inc. has a 1-year low of $49.00 and a 1-year high of $101.05.

CoStar Group (NASDAQ:CSGPGet Rating) last released its earnings results on Tuesday, July 26th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. CoStar Group had a return on equity of 7.31% and a net margin of 16.03%. During the same period last year, the company earned $0.22 EPS. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial raised their target price on CoStar Group to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Citigroup lifted their price target on CoStar Group from $65.00 to $70.00 in a research report on Wednesday, April 27th. Needham & Company LLC lifted their price target on CoStar Group from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, Royal Bank of Canada lifted their price target on CoStar Group from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, April 11th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.88.

Insider Activity

In related news, insider Michael J. Desmarais sold 2,000 shares of CoStar Group stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $72.51, for a total value of $145,020.00. Following the sale, the insider now directly owns 39,619 shares in the company, valued at $2,872,773.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director John W. Hill sold 1,750 shares of CoStar Group stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $57.07, for a total value of $99,872.50. Following the sale, the director now directly owns 21,998 shares in the company, valued at $1,255,425.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael J. Desmarais sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $72.51, for a total value of $145,020.00. Following the sale, the insider now owns 39,619 shares in the company, valued at $2,872,773.69. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

About CoStar Group

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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