CoStar Group, Inc. (NASDAQ:CSGP) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,089 shares of the technology company’s stock after buying an additional 559 shares during the quarter. Summit Trail Advisors LLC’s holdings in CoStar Group were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the 3rd quarter worth $40,000. JPMorgan Chase & Co. increased its stake in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC raised its position in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the last quarter. Swedbank AB raised its position in shares of CoStar Group by 469.3% during the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after purchasing an additional 204,474 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after buying an additional 14,468 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $76.00 on Wednesday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $74.25 and a 200 day moving average price of $75.48. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock has a market cap of $31.16 billion, a P/E ratio of 172.73 and a beta of 0.87.

Analyst Upgrades and Downgrades

CSGP has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.23.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.57% of the company’s stock.

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.