Norges Bank Purchases New Position in CoStar Group Inc (CSGP)

Norges Bank bought a new position in CoStar Group Inc (NASDAQ:CSGP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 131,946 shares of the technology company’s stock, valued at approximately $24,871,000. Norges Bank owned 0.41% of CoStar Group as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CoStar Group by 14.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 988 shares of the technology company’s stock worth $214,000 after buying an additional 128 shares during the period. Sciencast Management LP acquired a new position in CoStar Group during the fourth quarter worth $231,000. Teza Capital Management LLC acquired a new position in CoStar Group during the fourth quarter worth $234,000. Commerzbank Aktiengesellschaft FI purchased a new stake in CoStar Group during the fourth quarter valued at approximately $249,000. Finally, Comerica Bank purchased a new stake in CoStar Group during the fourth quarter valued at approximately $299,000. Institutional investors own 98.84% of the company’s stock.

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

CoStar Group Inc (NASDAQ:CSGP) traded up 0.19% on Friday, hitting $215.96. 6,757 shares of the stock traded hands. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 82.43 and a beta of 1.44. The stock has a 50-day moving average of $206.72 and a 200-day moving average of $200.51. CoStar Group Inc has a 12-month low of $175.45 and a 12-month high of $224.79.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, February 22nd. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. CoStar Group had a net margin of 9.66% and a return on equity of 6.90%. The company had revenue of $218 million for the quarter, compared to the consensus estimate of $217.49 million. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Analysts forecast that CoStar Group Inc will post $4.26 earnings per share for the current year.

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CSGP has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Tuesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 target price on shares of CoStar Group in a report on Monday, March 27th. B. Riley reissued a “buy” rating and set a $231.00 price target on shares of CoStar Group in a report on Monday, March 13th. Finally, TheStreet upgraded shares of CoStar Group from a “c+” rating to a “b” rating in a research report on Thursday, February 23rd. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $235.20.

In related news, insider Andrew C. Florance sold 26,271 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $205.31, for a total value of $5,393,699.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Francis Carchedi sold 2,448 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $205.30, for a total transaction of $502,574.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,219 shares of company stock worth $6,818,683. Corporate insiders own 2.98% of the company’s stock.

About CoStar Group

CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.

5 Day Chart for NASDAQ:CSGP

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