Entropy Technologies LP Buys 25,532 Shares of CoStar Group, Inc. $CSGP

Entropy Technologies LP raised its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 194.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,653 shares of the technology company’s stock after purchasing an additional 25,532 shares during the period. Entropy Technologies LP’s holdings in CoStar Group were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Bamco Inc. NY raised its holdings in CoStar Group by 1.3% during the 4th quarter. Bamco Inc. NY now owns 19,498,099 shares of the technology company’s stock valued at $1,311,052,000 after buying an additional 242,533 shares during the period. State Street Corp increased its holdings in CoStar Group by 1.9% during the fourth quarter. State Street Corp now owns 18,632,352 shares of the technology company’s stock valued at $1,252,839,000 after buying an additional 348,224 shares during the period. Principal Financial Group Inc. grew its stake in CoStar Group by 0.7% in the first quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company’s stock valued at $713,866,000 after purchasing an additional 130,118 shares during the last quarter. Baillie Gifford & Co. lifted its position in CoStar Group by 56.9% during the fourth quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company’s stock valued at $869,627,000 after acquiring an additional 4,691,543 shares during the last quarter. Finally, Capital International Investors lifted its position in CoStar Group by 59.7% during the fourth quarter. Capital International Investors now owns 10,842,010 shares of the technology company’s stock valued at $729,020,000 after acquiring an additional 4,053,456 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 5.5%

NASDAQ CSGP opened at $29.17 on Tuesday. CoStar Group, Inc. has a 12-month low of $26.68 and a 12-month high of $97.43. The company has a fifty day simple moving average of $30.90 and a two-hundred day simple moving average of $40.87. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.13. The stock has a market cap of $11.91 billion, a P/E ratio of 486.25, a P/E/G ratio of 0.71 and a beta of 0.74.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. CoStar Group had a net margin of 0.74% and a return on equity of 2.90%. The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.73 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, analysts forecast that CoStar Group, Inc. will post 1.03 earnings per share for the current year.

Analysts Set New Price Targets

CSGP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $44.00 price objective on CoStar Group in a report on Thursday, April 30th. Bank of America dropped their target price on CoStar Group from $42.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. Citizens Jmp reduced their target price on CoStar Group from $73.00 to $44.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird set a $34.00 price target on CoStar Group and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group set a $46.00 price target on CoStar Group and gave the stock a “buy” rating in a report on Thursday, June 25th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $51.50.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance purchased 71,430 shares of the stock in a transaction on Friday, May 1st. The stock was bought at an average price of $35.20 per share, with a total value of $2,514,336.00. Following the transaction, the chief executive officer owned 1,722,865 shares in the company, valued at $60,644,848. The trade was a 4.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is owned by company insiders.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.