Strait & Sound Wealth Management LLC Raises Stake in CoStar Group, Inc. $CSGP

Strait & Sound Wealth Management LLC boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,111 shares of the technology company’s stock after buying an additional 205 shares during the period. Strait & Sound Wealth Management LLC’s holdings in CoStar Group were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. AG2R LA Mondiale Gestion D Actifs boosted its position in CoStar Group by 13.4% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 22,059 shares of the technology company’s stock worth $1,774,000 after purchasing an additional 2,605 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in CoStar Group by 2.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,021,300 shares of the technology company’s stock worth $82,113,000 after purchasing an additional 24,290 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in CoStar Group by 22.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 125,889 shares of the technology company’s stock worth $10,121,000 after purchasing an additional 23,043 shares in the last quarter. Bleakley Financial Group LLC boosted its position in CoStar Group by 5.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 11,530 shares of the technology company’s stock worth $927,000 after purchasing an additional 595 shares in the last quarter. Finally, Forum Financial Management LP boosted its position in CoStar Group by 18.5% in the 2nd quarter. Forum Financial Management LP now owns 4,838 shares of the technology company’s stock worth $389,000 after purchasing an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value 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 approximately $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on CSGP. JPMorgan Chase & Co. upped their price objective on CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. BTIG Research initiated coverage on CoStar Group in a research note on Friday, October 3rd. They set a “neutral” rating for the company. Citigroup upped their target price on CoStar Group from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $91.00 target price on shares of CoStar Group in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

CoStar Group Stock Up 0.3%

NASDAQ CSGP opened at $77.89 on Friday. The business has a fifty day moving average price of $84.24 and a 200 day moving average price of $82.75. CoStar Group, Inc. has a one year low of $68.41 and a one year 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. The company has a market cap of $33.00 billion, a P/E ratio of 311.56, a P/E/G ratio of 3.66 and a beta of 0.87.

CoStar Group Company 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.