BNP Paribas Arbitrage SA Acquires 9,947 Shares of CoStar Group Inc (NASDAQ:CSGP)

BNP Paribas Arbitrage SA increased its position in CoStar Group Inc (NASDAQ:CSGP) by 158.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,213 shares of the technology company’s stock after purchasing an additional 9,947 shares during the period. BNP Paribas Arbitrage SA’s holdings in CoStar Group were worth $7,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in CoStar Group by 7.0% in the 4th quarter. BlackRock Inc. now owns 3,061,248 shares of the technology company’s stock worth $1,032,680,000 after purchasing an additional 200,620 shares during the period. Vanguard Group Inc lifted its position in CoStar Group by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 3,047,482 shares of the technology company’s stock worth $1,282,503,000 after buying an additional 9,345 shares in the last quarter. Marshall Wace North America L.P. lifted its position in CoStar Group by 16.4% in the 3rd quarter. Marshall Wace North America L.P. now owns 548,194 shares of the technology company’s stock worth $230,702,000 after buying an additional 77,373 shares in the last quarter. American Century Companies Inc. lifted its position in CoStar Group by 124.5% in the 4th quarter. American Century Companies Inc. now owns 481,418 shares of the technology company’s stock worth $162,402,000 after buying an additional 266,965 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in CoStar Group by 73.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 478,297 shares of the technology company’s stock worth $201,288,000 after buying an additional 202,743 shares in the last quarter. 96.17% of the stock is owned by hedge funds and other institutional investors.

CSGP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $548.00 target price for the company in a research report on Tuesday, April 30th. SunTrust Banks increased their target price on shares of CoStar Group to $560.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America increased their target price on shares of CoStar Group from $460.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Needham & Company LLC increased their target price on shares of CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Citigroup increased their target price on shares of CoStar Group from $490.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. CoStar Group currently has a consensus rating of “Buy” and an average target price of $538.25.

In other news, CFO Scott T. Wheeler sold 5,396 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $476.11, for a total transaction of $2,569,089.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew C. Florance sold 55,322 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $473.38, for a total transaction of $26,188,328.36. The disclosure for this sale can be found here. Insiders have sold a total of 65,419 shares of company stock worth $31,001,252 in the last 90 days. 2.47% of the stock is owned by insiders.

Shares of CoStar Group stock traded up $3.08 during midday trading on Wednesday, reaching $527.95. 217,463 shares of the company’s stock traded hands, compared to its average volume of 204,570. The company has a market capitalization of $19.29 billion, a P/E ratio of 71.34, a P/E/G ratio of 3.43 and a beta of 1.45. CoStar Group Inc has a 52 week low of $315.85 and a 52 week high of $532.22.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.11. The business had revenue of $328.00 million for the quarter, compared to the consensus estimate of $327.45 million. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. CoStar Group’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. As a group, equities research analysts anticipate that CoStar Group Inc will post 9.01 EPS for the current year.

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About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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

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