AXS Investments LLC Raises Position in CoStar Group, Inc. (NASDAQ:CSGP)

AXS Investments LLC raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 172.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,563 shares of the technology company’s stock after purchasing an additional 14,902 shares during the period. AXS Investments LLC’s holdings in CoStar Group were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after buying an additional 173 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of CoStar Group during the fourth quarter valued at approximately $37,000. CVA Family Office LLC bought a new position in shares of CoStar Group during the fourth quarter valued at approximately $60,000. KB Financial Partners LLC grew its stake in shares of CoStar Group by 17.9% during the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after buying an additional 124 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of CoStar Group by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock valued at $107,000 after buying an additional 540 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CSGP shares. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Jefferies Financial Group increased their price objective on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Stephens reissued an “overweight” rating and issued a $105.00 price objective on shares of CoStar Group in a research note on Wednesday, April 24th. Bank of America increased their price objective on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Needham & Company LLC increased their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a 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 $102.46.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded down $1.50 during trading on Thursday, reaching $85.69. 1,611,607 shares of the company’s stock traded hands, compared to its average volume of 2,071,064. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.99 billion, a PE ratio of 119.44, a P/E/G ratio of 12.93 and a beta of 0.84. The company has a 50-day simple moving average of $91.20 and a 200-day simple moving average of $86.56.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. As a group, analysts predict that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now directly owns 64,087 shares in the company, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by 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.